Tsingshan Group lifts FeCr buying price for June by $70/t
May 22, 2020 08:35
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Tsingshan Group has announced a Yuan 500/tonne ($70.4/t) on-month increase for its domestic purchases of high-carbon ferro-chrome (FeCr) for June, lifting its buying price to Yuan 6,397/tonne including 13% VAT in terms of delivery to its plant, according to the company’s notice on May 21.
“The increase in Tsingshan’s FeCr bidding price for June is to give domestic smelters some room to survive, given the rise in prices of chrome concentrates,”a chrome ore trader in North China’s Tianjin commented. A Shanghai-based market insider also said the on-month increase exceeded market expectations.
Prices of imported chrome ore