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 manufacturing sector is a driving force behind economic growth.

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.

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.

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

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

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.