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

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

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

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

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

Together with big steel producers, smaller firms also discussed difficulties for steel billet prices at the seminar.

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.

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