Stainless steel major, China’s Tsingshan, has raised purchase price for HC 50% ferro chrome by a steep RMB 2,400/t ($370/t) m-o-m to RMB 10,795/t ($1,664/t) for Aug’21 deliveries. The increase can be attributed to an acute shortage of ferro chrome in the Chinese market. Meanwhile, the increasing cost of UG2 is also supporting ferro chrome prices. Current offers in the Chinese market are at around RMB 11,000/t (1,696/t) exw.
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