Imported charge chrome, spot domestic prices diverge on new China tender

An increase in the latest ferro-chrome tender price has supported the imported charge chrome market and strengthened sentiment among some participants in the chrome ore sector.

China's Tsingshan Group announced its tender price for November-delivery high-carbon ferro-chrome at 10,495 yuan ($1,640) per tonne on Friday October 29. This is up by 500 yuan per tonne from its October tender price.
The latest tender from the country's largest ferro-chrome buyer exceeded many market participants' expectations, especially in light of the production cuts among stainless steelmakers in China.
Regardless, the higher tender was read by market participants as an indication of the mill's intention to build up stocks for the near-to-medium term.

"They [Tsingshan] should be sitting on sufficient stocks currently, but the concerns over near-term ferro-chrome supply snarls remain," a ferro-chrome producer source in Inner Mongolia said. "And they need to ensure they've...

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