- Alloy spot prices drop in line with tenders
- Ore prices start to weaken
- Alloy prices in South Korea follow China lower
- European alloy prices edge higher
- Japan and US alloy markets hold
Ferro-chrome prices dropped further in China on Friday May 4 after stainless steel mills released lower tender prices for May.
Metal Bulletin’s latest assessment for China’s domestic spot ferro-chrome prices
dropped 50 yuan on the low end of their range to 6,850-7,000 yuan ($1,077-1,101) per tonne, on a delivered basis, equivalent to $0.85-0.86 per lb.
Major stainless steel mills lowered their tender prices for May, citing abundant imported supply and high chrome ore stocks, which have been reported at more than 3 million tonnes.
“High inventories of ore...