GLOBAL CHROME WRAP: Softening demand, strong stocks weigh on Asian prices; US price dips; European quotation holds up

Lack of buying support and falling prices weighed on the Chinese ferro-chrome price assessment on Friday April 13 and market participants predicted subsequent softening to trickle into Japan, where demand is soft; US high-carbon prices fell temporarily in a quiet trading week.

Japan and South Korea ferro-chrome prices nudge down  Weak demand from stainless steel mills weigh on Chinese ferro-chrome assessments  European ferro-chrome prices remain firm while demand holds up  Quiet US ferro-chrome spot market leads to softening price  

Chinese domestic spot ferro-chrome prices assessed by Metal Bulletin dipped last week amid negative sentiment due to a weaker stainless steel sector.

Metal Bulletin’s price quotation for China’s domestic spot ferro-chrome prices, delivered, dropped to 7,000-7,200 yuan ($1,116.21- 1,148.12) per tonne on Friday, from 7,500-7800 yuan per tonne previously. This is equivalent to $0.86-0.89 per lb.

“The ex-works price in China’s Inner Mongolia district can be as low as 6,800-6,900 yuan per tonne,” a major producer in Inner Mongolia said. “After adding delivery charge, 7,000-7,200 yuan per tonne is a fair transaction price.”

“Stainless steel mills are not interested in buying due to their...

Published

Ellie Wang

Anna Xu

Chris Kavanagh

Karen Ng

Jon Stibbs

April 16, 2018

16:54 GMT

London, Shanghai, Singapore, New York