GLOBAL CHROME WRAP: Asian alloy prices keep rising on April tenders, power constraints

Long-term contract and import prices for ferro-chrome rose again in China in the week ended Friday March 22 on higher tenders from stainless steel mills and load shedding by South Africa electricity company Eskom.

April tenders push up long-term contract prices in China Charge chrome import prices rise on protracted power constraints Alloy prices rise in South Korea European alloy prices flatline despite benchmark price hike Ferro-chrome prices jumped again in China after stainless steel mills raised tender prices and concerns continued over the potential supply implications of power constraints in South Africa.  Fastmarkets’ price quotation for domestic Chinese ferro-chrome on long-term contracts rose to 6,950-7,300 yuan ($1,034-1,086) per tonne on Friday, up by 300 yuan or 4.4% from 6,650-7,000 yuan the week before, in line with April tenders. Fastmarkets’ charge chrome index, cif Shanghai, increased 2 cents or 2.4% week on week to $0.87 per lb on March 22, South African power provider Eskom implemented load shedding - controlled power outages - every business day last week, days after announcing sharp increases in power tariffs for the next three years. This...

Published

Janie Davies

Chris Kavanagh

Jon Stibbs

Amy Lv

March 25, 2019

17:12 GMT

London, Shanghai, New York