Major Chinese stainless steel mills cutting January ferro-chrome tender prices by 50 yuan per tonne

China’s leading stainless steel mills - Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - have lowered their January tender prices for high-carbon ferro-chrome, pressured by declining stainless steel prices and relatively high steel stocks at plants.

Early on Monday December 24, Tisco announced that its January tender price for high-carbon ferro-chrome was 6,650 yuan ($963) per tonne, a drop of 50 yuan per tonne compared with its December tender price. On Wednesday December 26, Tsingshan Group released its January tender at 6,896 yuan per tonne, 50 yuan per tonne lower than its tender price for December. “Considering the possible logistics problem during the Chinese Spring Festival [February 4-10, 2019], the final delivery is delayed to February 25, 2019,” a company official said. Baosteel will also cut the January tender price by 50 yuan...

Published

Amy Lv

December 26, 2018

18:28 GMT

Shanghai