Domestic ferro-chrome, imported charge chrome prices in China fall
UG2, Turkish lumpy chrome ore markets in China drop
Low demand weighs on global alloy prices
China’s domestic spot market ferro-chrome price continued to fall amid abundant supply, while domestic stainless steel mills showed limited interest in buying.
Fastmarkets assessed the Chinese spot market domestic ferro-chrome price at 6,800-7,000 yuan ($990-1,019) on Friday May 10, a drop of 100 yuan per tonne or 1.4% from 6,900-7,100 yuan per tonne the previous week.
“It’s very easy to source [ferro-chrome] cargoes at a price below 7,000 yuan per tonne in southern China [on delivery and including the value-added tax]. However, mills showed little interest in restocking more volumes because they have been focusing on destocking [stainless steel],” a China-based market source said.
A ferro-chrome price of 7,000 yuan per tonne in southern China is also lower than Baosteel’s May tender price at 7,100 yuan per tonne,...