China stainless giants hike FeCr bids in April

China's leading stainless steel producers Tsingshan Group and Taiyuan Iron and Steel Co. (TISCO) have lifted their high-carbon ferrochrome (HC FeCr) procurement prices for April, reflecting tightening market fundamentals and strong producer sentiment.

Tsingshan, the country's largest stainless steelmaker, announced recently it was raising its bid for April delivery by Yuan 150/tonne ($22/t) to Yuan 8,395/t (50% Cr basis), or $1,218/t, including tax and delivery, cash payment. TISCO, a large-scale steelmaker in North China, followed suit, also raising its April purchase price