Tsingshan keeps July FeCr bid flat

China's Tsingshan Group has rolled over its bid price for high-carbon ferrochrome (FeCr) for July delivery, maintaining this at Yuan 8,095/tonne (50% Cr basis), or $1,129/t, the stainless steel giant announced on June 24, keeping its prices unchanged for a second consecutive month.

The decision surprised many in the market, where sentiment has turned bearish in recent weeks due to the sluggish performance of the stainless steel sector and weakening cost support from falling chrome ore prices, market sources told Mysteel Global. Behind the pessimism in the FeCr market has been the steep