According to a media report from China, Taiyuan Steel, one of the very large stainless steel producers in China quoted RMB7,100/ton for high-carbon ferrochrome (half paid in cash and half by delayed payment) to be delivered during September, down RMB500/ton (or RMB450/ton based on TEX's findings) from August. Likewise, Baoshan Steel quoted RMB7,250/ton (all paid in cash), down RMB300/ton from the preceding month.|
Based on the lowered quotes by the major mills, producers' offer prices in the market declined by RMB50 – 100/ton, further softening the market sentiment.
Zhangjiagang-Posco and Jiuquan have not quoted their prices yet. Jiuquan's stainless steel making lines are currently off for annual checkup with restart scheduled on September 10. The mill is said to have abundant ferrochrome in stock, being not in rush for contracting September lots.