GLOBAL CHROME WRAP: Fading buying interest weighs on Chinese domestic spot ferro-chrome prices

UG2 chrome ore, and Chinese and Japanese ferro-chrome markets were bearish last week on anticipation of China’s stainless steel mills lowering their ferro-chrome tender prices for May.

Scarce activity due to sellers holding back from soft UG2 chrome ore  Charge chrome quiet before tenders revealed  Trades show fall in ferro-chrome into South Korea  European ferro-chrome prices stable  Balance in US ferro-chrome market Metal Bulletin’s price quotation for China’s domestic spot ferro-chrome prices, delivered, dropped to 6,900-7,200 yuan ($1,094.52- 1,142.08) per tonne on Friday April 20, from 7,000-7,200 yuan per tonne previously. This is equivalent to $0.861-0.886 per lb. “A middle-sized steel mill, Fuxin Special Steel, based in Chinese Fujian province, has set its ferro-chrome purchase price at 6,900 yuan per tonne,” a source said. “Fuxin Special Steel will buy around 3,000 tonnes of ferro-chrome for May,” the source added. “The ferro-chrome spot price is still sliding with sentiment remaining negative,” a major ferro-chrome buyer in a northern China stainless steel mill said. Metal Bulletin’s assessment of Chinese domestic contract ferro-chrome prices on a...

Published

Ellie Wang

Anna Xu

Chris Kavanagh

Karen Ng

Jon Stibbs

April 23, 2018

18:12 GMT

London, Shanghai, SIngapore, New York