Tsingshan ignores spot market price jump to keep October FeCr tender flat

Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.

The tender price was unchanged from what the eastern Chinese mill - the country’s largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge in the spot market.
September saw another uptrend in spot ferro-chrome prices after continued curbs on power use in Inner Mongolia, as well as some new production cuts in the Guangxi and Guizhou regions.

Fastmarkets’ price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, rose by 13% last month to 11,100-11,500 yuan per tonne on September 28, the last assessment of the month. It had...

Published

Siyi Liu

October 11, 2021

13:58 GMT

Shanghai