China's stainless giants raise FeCr bid prices for February

In a clear signal of sustained tightness in the ferrochrome market, leading Chinese stainless steel producers Tsingshan Group and Taiyuan Iron and Steel Co (TISCO) have set higher procurement prices for high-carbon ferrochrome (HC FeCr) for February delivery.

Tsingshan, the country's largest stainless steelmaker, announced on January 20 it was offering suppliers an extra Yuan 50/tonne ($7/t) for next month's deliveries, nominating its bid at Yuan 8,245/t (50% Cr basis), or $1,184/t, including tax and delivery, cash payment. The same day, TISCO, a large-scale stainless steelmaker in North