Baosteel secures ferrochrome supply from India

Shanghai: Baosteel Group, China's second-largest steelmaker by output, said Friday it had contracted with India's Ferro Alloys Corporation (Facor) for ferrochrome supply.

Baosteel Resources, the group's resources subsidiary, inked a supply contract for a second year with India's top ferroalloy producer, which produces 140,000 tonnes of high-carbon ferrochrome annually.

Baosteel did not reveal the contract volume in the statement on its website.

Ferrochrome (FeCr) is an alloy of chromium and iron containing between 50% and 70% chromium. Over 80% of the world's ferrochrome is utilised in the production of stainless steel.

Most of the world's ferrochrome is produced in South Africa, Kazakhstan and India, which have large domestic chromite resources though increasing amounts are coming from Russia and China.

The two companies also discussed cooperation in the supply of coking coal, a key steelmaking ingredient and developing resources overseas.