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.

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

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

Ferrosilicon Tender Information in October, 2022 (Oct 21, 2022).

High water storage levels at hydropower reservoirs have led Brazilian grid operator ONS and chamber of electric energy commercialization CCEE to launch a plan to export power to Argentina and Uruguay.

HRC lead times in the Midwest fell to 3-4 weeks from 4 weeks.

Limited overseas scrap demand will continue to weigh on export prices, trade sources said.