China: Tsingshan reduces Oct'24 ferro chrome tender prices by RMB 400/t ($57/t)

Tsingshan has reduced its ferro chrome tender prices for Oct'24 by RMB 400/t ($57/t) m-o-m to RMB 8,295/t ($1,176/t) DAP, including taxes. According to sources, the price drop is likely due to weak demand and surplus production in China. Additionally, Tsingshan was said to have sufficient inventories, which weighed on prices.