Chinese ferrochrome prices have hit a downward trend in the past three weeks due to sluggish demand in the stainless steel market and a resultant oversupply.
Many steelmakers have recently cut outputs and keep a ‘wait-and-see’ attitude towards a high ferrochrome market with few purchasing at present. As a result some ferrochrome producers have lowered quotations by around CNY 500 per tonne. The latest price stands at CNY 15000-16000 per tonne for high carbon ferrochrome.
On the international market the ferrochrome price remains firm. Recent statistics show quotations remaining at around USD 2.5-3.00 per pound for high carbon ferrochrome and USD 4.8 -5.3 per pound for low carbon ferrochrome.
Source: MySteel.net accessed via SteelGuru
Minerals and Metals at www.minerals-and-metals.com
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