China's Tsingshan raises its FeCr bid price for October

China's Tsingshan Group has raised its bid price for high-carbon ferrochrome (HC FeCr) for October delivery by Yuan 200/tonne ($28/t), nominating this at Yuan 8,495/tonne (50% Cr basis), or $1,194/t, including tax, the company announced on September 23.

The rise, doubtless spurred by the bullish FeCr market recently, means that the stainless giant has now hiked its purchase price for the ferroalloy under long-term contracts for a second straight month, Mysteel Global noted. "The price hike by Tsingshan validated the prevailing optimistic expectations in the ferrochrome market -