TISCO, the largest producer of Stainless steel has increased the purchase price of HC ferrochrome in Feb ’21 by a hefty 2,200 yuan/t to 8,000 yuan/t (112 cents/lb) for HC 50% min, delivered including tax. The delivery deadline is Mar 15, 2021. The sharp rise in purchase price can be attributed to tight supply in China owing to severe production cuts, higher electricity and coke cost pushing up ferrochrome spot prices.
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