China's ferro chrome prices remain steady in recent deals

Ferro chrome prices in China were sturdy this week as the market activities were stable due to lower acceptance of higher offers. High-carbon ferro chrome prices in China were within the range of RMB 8,600-8,800/t ($1,211-1,240/t), while medium-carbon ferro chrome remained stable around RMB 14,000-14,100/t ($1,972-1,986/t). All prices are inclusive of tax and are ex-works.

The ferro chrome market reflected a stable market environment this week as most buyers were hesitant in accepting higher offers. Towards the end of the year, steel mills need more inventory, so some factories had more orders. But there was less supply, so it is anticipated that prices might go up. However, most factories kept their prices stable, so the prices haven't changed.

The market for chrome ore did well. The trading atmosphere remained good. As the Spring Festival gets closer, ferro chrome plants slowed down their stocking. But the price of chrome ore futures went up before, and the supply remained dull. So, it was hard to find low-priced chrome ore.

On the other hand, the stainless steel market operated smoothly. The inventory of stainless steel went down slightly, especially in the 200 series and 400 series. But the 300 series has gone up a little. As the Spring Festival gets closer, manufacturers produced more but they were hesitant to sell at lower prices. So, the market waited for better prices.

Outlook

Following the Spring Festival, traders expect the market to improve. Current market conditions look stable for ferro chrome.

Note: This article has been written in accordance with an agreement between CBC and SteelMint.