China's leading stainless mills slash FeCr bids for July

China's two major stainless steel producers have cut their prices for high-carbon ferrochrome (FeCr) procured under long-term contracts by Yuan 200/tonne ($30/t) for July delivery, a move that aligns with earlier market expectations, sources confirmed on June 23.

Tsingshan Group, China's largest stainless producer, set its long-term contract procurement price for July at Yuan 8,295/t or $1,222/t (50% Cr basis) including tax and delivery, cash payment, Mysteel Global learned. Similarly, Taiyuan Iron and Steel Co. (TISCO), another major stainless steelmaker based in North China, also lowered its bid solicitation