GLOBAL CHROME WRAP: Ferro-chrome prices edge higher on tightening supply
Ferro-chrome prices rose in China for domestic and imported material on Friday May 18 due to producers standing firm on offer prices in a tighter market.
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Ferro-chrome prices continued upward in China on Friday May 18 due to higher offer prices from producers amid tighter supply and production cuts.
Metal Bulletin’s price quotation for Chinese spot domestic ferro-chrome rose to 7,000-7,200 yuan ($1,099- 1,131) per tonne, delivered, on Friday, up from 6,850-7,000 yuan previously.
Metal Bulletin’s charge chrome index, cif Shanghai, rose for the second consecutive week, up 2 cents to 88 cents per lb.
There are signs the market is tightening, sources said, adding that Chinese domestic ferro-chrome smelters have been implementing production cuts.
Prices are likely to continue rising as the market tightens further, sources said.