Baosteel, one of the largest producers of Stainless steel has sharply reduced its purchase price of HC ferrochrome in May ’21 by 1,050 yuan/t m-o-m to RMB 7,495/t ($1,155/t) for HC 50% min, delivered including tax. This announcement came after TISCO also decreased the prices by Yuan 1,050/t to 7,300 yuan/t. The reduction in tender price by the Chinese stainless-steel mills will have a significant impact on Indian ferrochrome prices.
Leave a Reply