Baosteel Desheng Will Cancel High-Carbon Ferrochrome Purchases under Long-Term Orders and Spot Purchases in August as It Slashes Output against Bleak Stainless Steel Market

Published: Jul 27, 2022 10:42

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SHANGHAI, Jul 27 (SMM) – Recently, Baosteel Desheng Stainless Steel Co., Ltd. issued a notice to cancel high-carbon ferrochrome purchases under long-term orders in August.

It said that it has shut down or overhauled some blast furnaces and steelmaking production lines due to the current tough situation in the stainless steel market, which has led to a sharp decline in high-carbon ferrochrome demand.

Meanwhile, it will also suspend purchases of high-carbon ferrochrome from the spot market next month.

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