YUAN DEVALUATION: FeCr, chrome ore prices due a knock in China

Chinese ferro-chrome and chrome ore buyers have started bidding for imported material at prices as low as 73 cents per lb following the country’s currency devaluations, market sources told Metal Bulletin.

Domestic spot ferro-chrome in China is trading at 6,100-6,500 yuan per tonne, delivered. The lower end of the range is equivalent to about 73 cents per lb based on today’s currency exchange.
“Chinese traders started saying immediately that charge chrome prices need to fall about 2.5-3% after the devaluation. A domestic ferro-chrome price of 6,100-6,200 yuan per tonne would mean 72-74 cents per lb today due to the devaluation,” a ferro-chrome producer told Metal Bulletin.

“I heard also that Chinese buyers are looking for...

Published

Janie Davies

August 18, 2015

17:41 GMT

London