Tsingshan lowers September FeCr tender by $123/t from August's 13-year high

Tsingshan Group has lowered its tender price for September-delivery ferro-chrome to 9,995 yuan ($1,543) per tonne, the Chinese stainless steelmaker said on Wednesday August 25.

The tender price is 800 yuan per tonne (7.41%) lower than what the eastern Chinese mill - the country’s largest ferro-chrome buyer - had sought for August-delivery material.
While lower than the previous month’s 13-year high, the latest tender is still around its highest since December 2016 - a level described by ferro-chrome producers as “still highly profitable.”
“It is not a small drop but still acceptable,” one ferro-chrome producer source said after receiving the tender.

Market participants attributed the fall in the September tender price to easing concerns about sourcing ferro-chrome, used in...

Published

Siyi Liu

August 25, 2021

08:31 GMT

Shanghai