Tisco announced its May tender price for high-carbon ferro-chrome at 6,900 yuan per tonne on Wednesday April 24, a drop of 50 yuan per tonne from its April tender price.
Two days later on Friday, Tsingshan and Baosteel released their May tender prices for high-carbon ferro-chrome at 7,096 yuan per tonne and 7,100 yuan per tonne respectively, down by 200 yuan from April’s figures.
The tender prices are on a duty-paid cash basis, including delivery, for 50% chrome material.
After the latest adjustment, the price spread between Tisco and Tsingshan has narrowed to 200 yuan per tonne from 350 yuan for April tenders.
The 50 yuan decline in Tisco’s tender was better than expected while the 200 yuan drop...