Chinese stainless steel mills cut July FeCr tender prices significantly on oversupply

China’s leading stainless steel mills -Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have cut their July tender prices for high-carbon ferro-chrome by 450-500 ($65-72) yuan per tonne month on month on July 3.

Tsingshan and Baosteel announced the month on month 450-yuan-per tonne reduction in their July tender prices for high-carbon ferro-chrome earlier in the morning on July 3, with their latest tender prices at 6,296 yuan per tonne and 6,300 yuan per tonne respectively. Later the same day, Tisco released its July ferro-chrome tender price for high-carbon ferro-chrome at 6,050 yuan per tonne, 500 yuan per tonne lower than its June tender price. The terms of the tender prices are duty-paid on a cash basis, including delivery, for 50% chrome material. After the latest adjustment, the price differential between Tisco and Baosteel widened to 250 yuan per tonne from 200 yuan per tonne previously. The June high-carbon tender prices for Ticso and Baosteel stood at 6,550 yuan per tonne and...

Published

Amy Lv

July 03, 2019

12:00 GMT

Shanghai