Leading Chinese stainless mills cut FeCr bids for October

Major Chinese stainless steel mills have lowered their procurement prices of high-carbon ferrochrome (HC FeCr) under long-term contracts for October delivery by Yuan 200/tonne ($30/t), Mysteel Global has learned.

Tsingshan Group, the country's largest stainless steel producer, has set its October long-term contract price at Yuan 7,795/t or $1,164/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