Companies

Baosteel signs ferrochrome supply pact with India Farco

(Agencies)
Updated: 2011-02-18 15:36

Baosteel Group, China's second-largest steelmaker by output, said Friday it had signed an agreement with India's Ferro Alloys Corporation (Farco) to secure ferrochrome supply to support stainless steel production.

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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 tons of high-carbon ferrochrome annually.

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

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

Ferrochrome is an alloy mainly used to produce stainless steel.