China's Tsingshan lowers August FeCr bid price

After keeping its ferrochrome (FeCr) buying prices unchanged for two consecutive months, China's Tsingshan Group has lowered its bid price for high-carbon FeCr for August delivery by Yuan 100/tonne ($13.9/t), nominating this at Yuan 7,995/tonne (50% Cr basis), or $1,114/t, including tax, the company has announced.

The price cut by China's largest stainless steel producer came after a July 23 announcement by Taiyuan Iron and Steel Co. (TISCO), the country's second largest stainless steel manufacturer, declaring that it would lower its bid price for the ferroalloy on the same basis by Yuan 200/t to Yuan