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.

The manufacturing sector is a driving force behind economic growth.

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

The plate delivered assessment rose by $8.25/st to $1,676.50/st.

Japanese automaker Honda expects to boost its North American production in the fourth quarter as access to auto parts improves.

Steelmaker Nucor is keeping its plate prices flat, just weeks after announcing lower pricing.

Tata Steel approved a merger with its seven metal subsidiaries last month to increase operational efficiency and reduce costs.

Indian private-sector producer Tata Steel's sales rose by 7.2pc on the year in July-September, despite monsoon-led seasonal weakness.