Higher tender prices highlight China's tightening ferro-chrome market

Prices in the China ferro-chrome market rose further during the week to Tuesday July 6, as a result of higher alloy tender prices being released and indications the market is tightening under electricity restrictions in key producing regions.

Stainless steel producer Tsingshan Group raised its tender price for July-delivery high-carbon ferro-chrome by 950 yuan ($146.80) per tonne, or 12.76%, to 8,395 yuan per tonne. This compares with 7,445 yuan per tonne for June-delivery ferro-chrome.
Some small and medium-sized mills followed Tsingshan by raising their purchase prices by a similar amount to secure material, market participants told Fastmarkets.
The raised purchase prices from downstream buyers strengthened market sentiment, with spot deals heard concluded at higher prices.

Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China was 8,200-8,600 yuan per tonne on Tuesday, up 200 yuan from 8,000-8,400...

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