Some ferro-chrome suppliers to China have been charging the country's domestic stainless steel mills wider premiums to monthly tenders amid strong demand, market sources told Fastmarkets.
Domestic Chinese stainless mills release yuan-based tender prices every month, announcing the price they are prepared to pay for ferro-chrome from domestic suppliers. Overseas ferro-chrome suppliers are often expected to make their offers in line with the tenders, sometimes with a discount or premium to the tender price, depending on market conditions. In recent weeks, a number of suppliers have reported charging wider premiums or seeing buyers prepared to pay more than the tender price to secure prompt material in both the spot and long-term contract markets. Spot ferro-chrome prices in China have been rising in recent weeks amid strong demand and...