Major stainless steel manufacturer Tsingshan has increased its purchase price for HC 50% ferro chrome by RMB 950/t ($147/t) m-o-m to RMB 8,395/t ($1,295/t) for Jul’21 deliveries. The increase can be attributed to supply shortage in the Chinese market, as major suppliers have stopped offering in the spot market. It is expected to have a similar effect on the Indian market, as per sources.
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