GLOBAL CHROME WRAP: Alloy markets weaken in China and Europe amid poor demand

Deteriorating demand is adding continual downward pressure to Chinese and European alloy prices.

  • 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.

China...

Published

Janie Davies

Susan Zou

Jon Stibbs

December 03, 2019

12:30 GMT

London, Shanghai