Offers heard in the spot market continued to rise after China’s National Day holiday on October 1-7, due to limited availability caused by lasting electricity limitations.
Fastmarkets’ price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China
, widened upward by 500 yuan to 11,000-12,000 yuan ($1,704-1,859) per tonne on Tuesday October 12, from 11,100-11,500 yuan per tonne on September 28. The earlier assessment was rolled over on October 5 because of the National Day holiday.
China produced around 400,000 tonnes of high-carbon ferro-chrome in September, which was an 18% drop from the previous month, according to market participants.
“There’s very little spot availability,” a trader said. “Many producers were focused on long-term contract delivery, leaving very few cargoes to offer in...