- Chinese domestic alloy prices weaken on thin demand
- Imported charge chrome prices in China drop amid competitive domestic prices
- Chrome ore prices hold in China
- European alloy market continues sliding
Chinese spot domestic ferro-chrome prices resumed their decline in the week to Friday November 29, reflecting weaker demand from stainless steel mills and traders.
Fastmarkets’ assessment for ferro-chrome spot 6-8% C, basis 50% Cr, ddp China
dropped to 6,000-6,300 yuan ($852-895) per tonne on Friday November 29, from 6,100-6,400 yuan per tonne one week ago.
“Sentiment is further dampened after mills announced lower tender prices. Steel mills are mostly relying on feedstock from tender purchases, while traders have little appetite to restock,” a ferro-chrome producer said.
High shipments of imported ferro-chrome in October have exacerbated oversupply in the domestic Chinese market, sources added.