China's FeCr market under siege as stainless steel losses deepen

China's ferrochrome (FeCr) market is on a downward slide as stainless steel mills transfer the pain of their continuing losses to their raw materials suppliers. Market insiders expect that given the persistent decline in stainless steel prices, the mills will tighten their budgets even further in the upcoming ferrochrome tender this month, adding more pressure to the raw material market.

On November 14, Mysteel assessed the price of high-carbon FeCr with 55% chrome content in North China's Inner Mongolia at just Yuan 7,900/tonne ($1,091.6/t), down Yuan 300/t from a month ago. This price drop follows the announcement from East China's Tsingshan Group, a global leader in stainless steel production, warning