Leading Chinese stainless mills lower FeCr bids for September

Two major Chinese stainless steel mills have lowered their procurement prices for high-carbon ferrochrome (FeCr) under long-term contracts for September delivery by Yuan 100/tonne ($15/t), Mysteel Global learned.

Tsingshan Group, the country's largest stainless steel producer, has set its September long-term contract price at Yuan 7,995/t or $1,190/t (50% Cr basis), including tax and delivery, cash payment, according to industry sources. Taiyuan Iron and Steel Co. (TISCO), another major stainless steelmaker based in North China, has cut its