China's Tsingshan cuts FeCr bid price for January

Tsingshan Group, China's largest stainless steel producer, has lowered its bid price for high-carbon ferrochrome (HC FeCr) for January delivery by Yuan 200/tonne ($29/t), nominating this at Yuan 8,195/t (50% Cr basis), or $1,166/t, including tax, the company has announced.

Tsingshan's adjustment seems to have been a response to an identical price cut announced by TISCO, a large-scale stainless steelmaker in North China, lowering its January procurement price to Yuan 7,995/t (50% Cr basis), including tax and delivery, cash payment, market sources believe. However, spot prices for ferrochrome in China