It is reported that China's Taigang Stainless Steel hiked its bid prices of ferrochrome by CNY 300 per tonne to CNY 7,300 per tonne after failing the bid.

A trader indicated that ferrochrome manufacturers are reluctant to sell the materials to Taigang Stainless Steel after receiving such a low bid.

Besides, Zhangjiagang POSCO said its weekly purchasing prices of ferrochrome were at CNY 7,550 per tonne, brining pressure to Taigang Stainless Steel.

(Sourced from www.yieh.com)