China’s Taiyuan Iron & Steel (Tisco), Baosteel and Tsingshan Group cut their ferro-chrome tender prices
by 1,050 yuan ($162) per tonne for May-delivery material.
Fastmarkets’ price assessment for ferro-chrome contract 6-8% C, basis 50% Cr, ddp China
subsequently slumped by 12.4% to 7,300-7,495 yuan per tonne on April 27, from 8,350-8,545 yuan per tonne in the previous pricing session.
As a result, suppliers in China’s domestic spot market trimmed their offers to a level close to May tender prices.
Fastmarkets’ price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China
fell to 7,300-7,600 yuan per tonne on Tuesday, down by 4.5% from 7,600-8,000 yuan per tonne the week before.
Many market participants expect a further drop in alloy prices and supply to increase over May, Fastmarkets heard.