The 2211 ferrosilicon contract price on ZCE closed at 8756 yuan per ton on October 12.

Thai steel manufacturers are planning to increase their domestic prices following a rise in operational costs.

The deal also enhances cooperation with the UK in accelerating the decarbonisation process of the iron and steel industry as Vietnam was striving to achieve net zero by 2050.

Hoa Phat Group produced over 6 million tonnes of crude steel in the first nine months of the year, matching its output from last year.

Mining sector would be hardest hit by Transnet strike, says economist

Mining sector would be hardest hit by Transnet strike, says economist

"Our plant uses a lot of water and chemicals but unlike other jurisdictions will not produce a single litre of liquid waste," SRC president Mike Crabtree said.

The daily Argus ICX 62pc iron ore index was at $96.15/dry metric tonne today, down 19pc from a year earlier.