On February 16, Chinese steel giant
Baosteel Group signed an agreement with the Indian company Ferro
Alloys Corporation Limited (FACOR), a leading carbon, alloy, stainless and special steel manufacturer in central
India, for the purchase of ferrochromium supplies in 2011. This is the second time that
Baosteel has signed a ferrochromium purchase agreement with FACOR, having signed the first agreement in November 2009.
According to the deal, FACOR will supply high-carbon ferrochromium to
Baosteel in 2011, ensuring a stable supply of the raw material to
Baosteel.
FACOR has a total of four ferrochromium mines, with an aggregate annual
production capacity of 140,000 mt.