Tsingshan keeps June FeCr bid flat

China's Tsingshan Group has kept its bid price for high-carbon ferrochrome (FeCr) for June delivery unchanged at Yuan 8,095/tonne (50% Cr basis), or $1,109.1/t, following two consecutive months of increases, thecompany announced on May 22.

The decision of the country's largest stainless steel producer to rollover its bid price was largely in line with market expectations, as domestic FeCr smelters have retained strong bargaining power amid a continued supply shortage, industry sources commented. According to Mysteel's assessment, stainless steel production in April consumed around 994,000