China's ferro chrome prices stable amid off-season

The Chinese ferro chrome market remains stable with high-carbon ferro chrome (Cr: 50%; C: 6-8%) prices at around RMB 8,550-8,750/t ($1195-1223/t). Overall, the ferro chrome market is running smoothly. The trading atmosphere is average. The actual trading volume is also average amid an off-season.

Although, the prices of medium, low, and micro-carbon ferrochrome went up slightly, the bidding performance of steel mills is not great.

On the other hand, chrome ore market is relatively strong. Right now, the fine ore transaction performance is the best, while the lump ore market is not doing as well. However, because there are lesser shipments from South Africa, supply is limited, and the prices of chrome ore in some areas have gone up a bit.

The stainless steel market is showing a strong trend. The prices have gone up with an improved trading atmosphere. Futures contracts are also rising, and there are inquiries about orders and prices. Some merchants are still willing to negotiate prices and deliver goods, and traders from all over the world are raising their quotations. However, some traders are still adopting a wait-and-watch approach.

Outlook
The ferro chrome market for price stabilisation is strong. The demand for stainless steel is entering the traditional off-season, so spot transactions are average. Manufacturers are being cautious when purchasing raw materials. In the near future, the market is anticipated to remain standstill.

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