From January to September 2020, Japan imported 250201.03 tons of ferrosilicon (>55%).

The 2101 ferrosilicon contract price on ZCE closed at 6002 yuan per ton on November 6.

Data of the first week of November showed that the operating rate and output of ferrosilicon plants had a slight upward trend.

This trend is expected to persist in the medium term, whereby domestic steel mills will directly benefit, VDSC said.

Leading steel manufacturer Hoa Phat Group sold nearly 4.14 million tonnes of steel in the first ten months of 2020.

Notably, the export volume of hot rolled steel reached over 270,000 tonnes, rising by over 330 percent from the first quarter.

Hoa Phat Steel said it shipped 62,700 tonnes of finished steel abroad in September, doubling the figure a year ago.

In the first nine months of this year, the group earned 65 trillion VND in revenue and over 8.84 trillion VND in after-tax profit.