Tisco released a June tender price of 6,550 yuan per tonne on Friday May 24, a decline of 350 yuan per tonne from its tender price for the prior month of 6,900 yuan per tonne.
This was followed by Tsingshan and Baosteel both announcing on May 28 that they have cut their June tender prices by 350 yuan per tonne as well. After the adjustment, the tender prices of these two mills sit at 6,746 yuan per tonne and 6,750 yuan per tonne respectively.
The terms of the tender prices are duty-paid on a cash basis, including delivery, for 50% chrome material.
The 350-yuan per tonne...