China's Tsingshan raises April FeCr bid price by $80/t

China's Tsingshan Group announced its bid price for high-carbon ferrochrome (FeCr) for April delivery on March 31, setting this at Yuan 7,595/tonne, 50Cr ($1,044.8/t), marking a Yuan 600/t increase from the previous round. This marked Tsingshan's first price hike so far this year after the company had kept its bid price flat for three consecutive months, Mysteel Global notes.

Tsingshan, the world's largest stainless steel producer and headquartered in East China's Zhejiang province, has been grappling with narrow profit margins since early this year, due to weakening stainless steel prices and rising nickel pig iron (NPI) costs, Mysteel Global observed. NPI is a key feedstock for austenitic stainless