Rio last month said it would team up with China Baowu Steel Group to develop an iron ore project for $2 billion as it looks to prop up its production from the Pilbara region.

The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter.

Hoa Phat Group produced over 6 million tonnes of crude steel in the first nine months of the year, matching its output from last year.

Fortescue Chairman Andrew Forrest, Australia’s richest person, launched FFI in 2020 with an ambitious goal to produce 15 million tons of green hydrogen by 2030.

HBIS Group ferrosilicon 72# tender price and volume in October.

Hoa Phat Group produced over 6 million tonnes of crude steel in the first nine months of the year, matching its output from last year.

Integrated steelmaker US Steel is indefinitely idling a blast furnace at its Mon Valley Works in Pennsylvania.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.