The 2205 ferrosilicon contract price on ZCE closed at 8908 yuan per ton on January 17.

As the domestic market has been heavily affected by the COVID-19 pandemic, many small steel enterprises experienced a sharp decline in profit in the third quarter of 2021.

Both the entities have signed a memorandum of understanding (MoU) to this effect.

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Silicomanganese futures close at 8132 on January 17, a decrease of 5.68%

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The ministry has already directed the public sector undertakings (PSUs) and private players to take measures to cut imports of special steel.

In November alone, Hoa Phat shipped more than 100,000 tonnes of construction steel abroad, seeing a 2.3-fold increase year on year.