GLOBAL CHROME WRAP: Lower mill tender prices drag down ore, FeCr prices

Lower steel mill tender prices continue to weigh down domestic ferro-chrome and chrome ore prices in China, pressuring markets outside of Asia in response.

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...

Published

Ellie Wang

Charlotte Radford

Chris Kavanagh

Declan Conway

December 05, 2017

10:15 GMT

London, Galway, New York, Shanghai