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WEEKLY: China’s port Cr ore prices soften on FeCr bids

Mysteel’s price of 42% grade South African chrome ore at Tianjin port, North China, reversed down though by just Yuan 0.25/dmtu or 0.8% from June 28 to Yuan 31.25/dmtu ($4.5/dmtu) as of July 3, as the Chinese ferrochrome (FeCr) smelters will not pay higher when the domestic steel mills bid lower for FeCr supplies in July, market source said on Tuesday.
June 28 was a make-up working day after China’s celebration of the Dragon Boat Festival over June 25-26. Over June 29-July 3, some of China’s top stainless steel mills including TsingshanGroup, China’s top stainless producer, announced to cut their procurement prices of high-carbonFeCr by Yuan 100/tonne on month for July supplies,

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