Reports from China’s Xinhua news agency suggest that Baosteel and Sichuan Mingda Group have signed a long-term cooperative agreement regarding a strategic supply chain for ferrochrome.
According to the agreement, over the next three years Sichuan Mingda will supply Baosteel’s with high carbon ferrochrome with prices fixed on a monthly or bimonthly basis. Sichuan Mingda Group is a ferrochrome producer with advantages in terms of hydropower, market scale, technical information and quality control. Annual production is about 150,000 tonnes.
Since the operation of the Baosteel stainless steel project, Sichuan Mingda Group has supplied high carbon ferrochrome to Baosteel and the two sides established a good business relationship.Ferrochrome is one of the main raw materials to produce stainless steel and is China’s scare mineral resources.
Source: Steel Guru
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