TISCO March Ferrochrome Steel Tender Announced, Retail Steel Tender Price Spread Maintains [SMM Daily Review]

On March 10, the spot price of high-carbon ferrochrome in Inner Mongolia was 7,600-7,700 yuan/mt (50% metal content), unchanged from the previous trading day. Today, TISCO also announced its tender price for high-carbon ferrochrome in March, which remained the same as last month at 6,795 yuan/mt (50% metal content). Currently, the production cost of ferrochrome remains high, coupled with the impact of low tender prices from steel mills, which has dampened the production enthusiasm of ferrochrome producers. Market supply remains tight, leading to a potential continued gap between the retail price of ferrochrome and the steel mills' tender prices. Stainless steel production remains at a high level, and the market is optimistic about a future increase in steel mills' tender prices. It is expected that ferrochrome prices will remain firm in the short term.

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