Baosteel has agreed with India on the supply of ferrochrome

China steel group Baosteel has signed an agreement with an Indian "Ferro Alloys Corporation" (Farco) for the purchase of ferrochrome for stainless steel production. It is reported by Reuters. The contract to supply leading company Baosteel Resources, which is responsible for resources and supply chain management for Baosteel. Farco is the largest producer of ferroalloys in India with an annual capacity of 140 thousand tons. Recall that Baosteel price increases for steel products for delivery in March. Amid growing price of metal raw material costs increased by 300 yuan / ton (45.5 U.S. $ / ton). In particular, prices for hot rolled products rose by 300 yuan per ton, and on cold rolled - at 260-300 yuan / ton. Previously reported that Baosteel in 2015 will increase the volume of steel production to 33 million tons. Currently, the corporation annually produces about 26 million tons of metal. It is assumed that the steel giant will increase the production of cold-rolled sheet. To date, the share of these products in the sales structure Baosteel is 40-50%. The Chinese company, Baosteel is the leader of the world steel market. Ministry of Industry