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.
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.
