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Baosteel cuts bid for FeCr by $52 per tonne

July 26, 2010 - 00:00 GMT

FeCr drop - Taigang may respond with even lower bid

Chinese high-carbon ferro-chrome prices may fall again after Baosteel cut its bid for supplies by 350 yuan ($52), sparking talk that Taigang Stainless may make an even lower bid. Baosteel’s latest bid for ferro-chrome supplies was set at 7,750 yuan per tonne, higher than expected by market participants. “Baosteel’s pricing is very delicate, only 50 yuan...

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