Tender price cuts by leading stainless steel mills in China have prompted lower spot prices for ferro-chrome and chrome ore.
- Alloy markets weaken following tender price cuts
- Chrome ore prices track alloy prices lower
- Alloy prices down in South Korea, Japan
- European alloy prices tick up
- US market slips slightly on lack of consumer spot interest
Ferro-chrome and chrome ore prices dropped in China after the country’s major stainless steel mills announced lower tender prices for December
Fastmarkets' price assessment for ferro-chrome spot 6-8% C, basis 50% Cr, ddp China
dropped to 5,900-6,200 yuan ($838-881) per tonne on Friday December 6, its lowest since August 2016, down from 6,000-6,300 yuan per tonne in the previous week.
Driven by urgency to generate cash amid gloomy stainless steel market, alloy smelters cut offer prices to facilitate sales.
Chinese stainless steel prices have been under near...