Steel shipments from US mills fell in August as the market continued to deal with declining prices.

Japan and the US remained Vietnam's top two suppliers and accounted for 58pc of total imports in September.

However, the tender price was lower in the later stage, and the volume was reduced.

The 2211 ferrosilicon contract price on ZCE closed at 8294 yuan per ton on October 21.

Multiple producers have faced that tough choice in recent months.

Increased light vehicle production through the second half of 2022 over the first half of the year will increase availability for prime steel scrap.

The 2211 ferrosilicon contract price on ZCE closed at 8312 yuan per ton on October 19.

US domestic raw steel production was 1,688,000 net tons while the capability utilization rate was 75.7 percent.