Chinese spot ferro-chrome price slides to April 2016 low

Tender price cuts from major Chinese stainless steel mills last week, though broadly expected in the market, have caused the domestic spot ferro-chrome price in the country to fall to a 44-month low.

Fastmarkets assessed the price of ferro-chrome spot 6-8% C, basis 50% Cr, ddp China at 5,600-5,800 yuan ($801-830) per tonne on Friday December 27, down by 200-300 yuan per tonne - or 4.2% - from 5,800-6,100 yuan per tonne in the prior week. The latest assessment’s midpoint of 5,700 yuan per tonne marks the lowest since April 2016.
Last week’s decline comes after Chinese stainless steel mills Tsingshan Group, Baosteel and Taiyuan Iron & Steel (Tisco) all cut their high-carbon ferro-chrome tender prices for January against a backdrop of persistent oversupply in the market.

Tisco slashed...

Published

Siyi Liu

December 31, 2019

05:42 GMT

Shanghai