Chinese Stainless Steel Mills Announce HC Ferro Chrome Tender Prices For April

China's leading stainless steel mills announced their April tender prices for high-carbon Ferro-Chrome which has been increased by around 300 yuan per tonne month on month. After this adjustment, Tisco's April tender price for high-carbon Ferro-Chrome will be 6,950 yuan ($1,038) per tonne, while for Tsingshan and Baosteel the prices will be standing at 7,296 yuan per tonne and7,300 yuan per tonne respectively.

These Tender prices are based on the newly reduced value-added tax (VAT) rates announced by Chinese Prime Minister. As per the announcement the VAT rates were reduced to 13% from 16%, and would be implemented from April 1. Due to this, the actual increase is equal to 500 yuan per tonne. Meanwhile, the terms of the tender prices are duty-paid on a cash basis, including delivery, for 50% chrome material.