“Production has been greatly impacted amid the uncertainty brought by Inner Mongolia’s energy controls and electricity supply shortage. This, together with sharply increased production costs, has led to our decision to raise offers in the spot market to 8,000 yuan per tonne,” Xin Gang Lian Metallurgy (XGL) said on June 17.
A similar notice was issued by Mintal Group Chrome Technology on the same day. XGL and Mintal are the top two ferro-chrome producers; their combined production levels account for over one quarter of total domestic output.
These moves have propelled market sentiment with many suppliers lifting their offers to 7,800-8,000 yuan per tonne, although liquidity remains limited due to tight spot availability.
Fastmarkets’ price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China jumped by 5.2% to 7,900-8,300 yuan...