China's largest steelmakers scaled back production in late October to the lowest since March 2018, after slightly increasing output from lows in late September.

JSW's average capacity utilisation rose to 95pc during October compared with 89pc a year earlier and the highest since March this year when it was 96pc.

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Vietnam exported more than 5.7 million tonnes of steel products in the first nine months of 2021.

Vietnam's leading industrial manufacturing group Hoa Phat recorded the highest ever after-tax profit in a quarter at 10.3 trillion VND (453 million USD) in the third quarter of this year.

This year, Tien Len Steel Group set a target of 250 billion VND in profit after tax.

Its major markets included the US, European and Southeast Asian nations.

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