GLOBAL CHROME WRAP: Multi-year lows for spot prices after Chinese alloy tender cuts

Tender price cuts by leading stainless steel mills in China have prompted lower spot prices for ferro-chrome and chrome ore.

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...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Jon Stibbs

December 09, 2019

18:29 GMT

Shanghai, London, New York