Chinese spot FeCr, chrome prices under pressure from lower tender prices, weaker stainless steel market
South Korean, Japanese markets remained under pressure from weakened Chinese prices
European low-carbon market edges up on new deals
US market continues to focus on long-term contract negotiations
Chinese FeCr, UG2 prices continued downward trend after lower tender prices
Ferro-chrome and chrome ore prices in China weakened on Friday December 1, after major Chinese stainless steel mills announced lower December tender prices and ample supply for the rest of the year put prices under pressure.
Metal Bulletin’s price assessment for Chinese contract domestic ferro-chrome weakened to 6,900-7,100 yuan ($1,043.22-1,073.41) per tonne following Chinese stainless steel mills’ 800 yuan drop for December tender prices from November’s 7,700-7,900 yuan per tonne.
The contract price equals to 80.8 cents to 83.2 cents per lb.
China’s domestic stainless steel prices were kept down over the past week while nickel prices declined, Metal Bulletin...