GLOBAL CHROME WRAP: Chinese domestic alloy price dips amid fall in downstream steel price

The price of domestic ferro-chrome in China fell in the week ended Friday March 29 on lower offers from suppliers trying to tempt stainless steel consumers to buy, while the price of imported alloy was stable due to supply concerns.

Domestic alloy prices in China drop prior to VAT cut  Tenders in Japan see ferro-chrome price rise  Imported ores into China rise  Rise in the top end of the range of European alloy price  US ferro-chrome price maintains stability China’s domestic spot ferro-chrome price softened on Friday March 29 after domestic suppliers cut their prices to encourage sales. Fastmarkets’ assessment for the Chinese spot domestic ferro-chrome price was 7,100-7,300 yuan ($1,058-1,088) per tonne on Friday, a fall of 100 yuan per tonne from a week ago. Domestic stainless steel mills in China showed less interest in buying on the spot market in anticipation that the price would slide further after the country’s 13% value added tax (VAT) came into effect on April 1. “There is ample [ferro-chrome] supply, and we won’t consider securing cargoes at a price higher than our [April] tender price,” a Chinese stainless mill said on March...

Published

Chris Kavanagh

Karen Ng

Jon Stibbs

Amy Lv

April 01, 2019

18:07 GMT

London, Shanghai, Singapore, New York