FOCUS: China’s two biggest ferro-chrome buyers decline to announce June tender prices

Neither Tsingshan Group nor Taiyuan Iron & Steel (Tisco) will be giving ferro-chrome tender prices in June, citing sufficient stocks amid plans to cut stainless steel output, Metal Bulletin has learned.

Major Chinese stainless steel mills traditionally announce their high-carbon ferro-chrome bid prices for June at this time, but the two largest buyers of ferro-chrome in China – Tisco and Tsingshan Group – have said they have enough ferro-chrome for their production needs, citing plans to cut stainless steel production in June following maintenance in May.
On Thursday June 1, Tisco told Chinese ferro-chrome producers that it would not be giving a tender price for June due to plans to cut production and because their ferro-chrome inventory is sufficient to cover stainless steel production to the end of the month.
Tisco will only purchase from limited domestic suppliers on long contracts and at lower volumes, a trader familiar with the situation told Metal Bulletin.

In a normal...

Published

Ellie Wang

June 02, 2017

13:03 GMT

Shanghai