Following a strong fourth quarter, the chrome market has
taken its first hit in 2017, showing its first sign of weakness
in several weeks. Prices for Chinese charge chrome
imports tumbled to $1.20 per lb cif Shanghai, a drop of
11.1% from $1.35 at the close of 2016, according to Metal
Bulletin. The steep drop comes as Chinese mills cut domestic
ferro-chrome purchasing prices for January, leading overseas
suppliers to similarly cut offers to China. Metal Bulletin's
latest assessment for Chinese high-carbon ferro-chrome was
10,100-10,395 yuan ($1,457-1,500) per tonne on January 6, down
from 10,100-10,400 yuan per tonne a week earlier and
10,300-11,000 yuan per tonne on December 23. Indian suppliers
were seen as primarily responsible for the lower offers into
China over that time. Despite the lower prices in
China, US spot prices for high-carbon ferro-chrome held
steadily at $1.50-1.55 per lb in-warehouse Pittsburgh on
January 5, according to Metal Bulletin's most recent
assessment. Prices surged leading up...
