According to the Vietnam Steel Association, Vietnam exported over 333,000 tonnes of steel and semi-finished products as of September, reaching over $207 million. Steel will be a competitive export to the US and Canada in the time to come. Every year, the US imported 40 million tonnes of steel from around the world, offering opportunities to Vietnam's steel industry. Hoa Sen and Phuong Nam are the first Vietnamese companies to export steel to the US.