China's Tsingshan raises FeCr bid price in September

After lowering its ferrochrome (FeCr) buying prices last month, China's Tsingshan Group has finally reversed its price strategy by raising its bid price for high-carbon FeCr for September delivery by Yuan 300/tonne ($42/t), nominating this at Yuan 8,295/tonne (50% Cr basis), or $1,157/t, including tax, the company announced on August 25.

The price hike by China's top stainless steel producer was in line with market expectations, Mysteel Global observed. "Market participants had already been anticipating that leading stainless and special steel mills would raise their September bids for the ferroalloy ahead of the peak autumn season," according to a market source. Meanwhile,