Tsingshan Announces March High-Carbon Steel Tender Price Unchanged, Lower Than Expected; Ferrochrome Producers' Production Enthusiasm Declines [SMM Daily Review]

On March 3, the quoted price for high-carbon ferrochrome in Inner Mongolia was 7,450-7,650 yuan/mt (50% metal content), unchanged from the previous trading day. Tsingshan announced its March high-carbon ferrochrome tender price at 6,995 yuan/mt (50% metal content), the same as last month. Previously, retail ferrochrome prices had risen due to cost support from chrome ore, shortages in the retail ferrochrome market, and a significant increase in March stainless steel production schedules, leading to optimistic expectations for the tender. However, the current tender results deviated from earlier expectations. Ferrochrome manufacturers faced severe losses in tender prices, dampening their production enthusiasm and significantly reducing their willingness to purchase high-priced chrome ore, intensifying market competition.

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