Ferro chrome prices in China remained steady this week as the upcoming holidays approached. High-carbon ferro chrome prices held within the range of RMB 8,600-8,800/t ($1,209-1,238/t), while medium-carbon ferro chrome maintained stability around RMB 14,000-14,100/t ($1,969-1,983/t). These prices, inclusive of tax and ex-works, showed no significant fluctuations.
With the Spring Festival drawing near, many traders opted for a break, resulting in slower market movement. Despite the sluggish pace, chrome ore trading performed steadily, albeit with a consistent flow. However, shipping prices saw an increase due to issues in the Red Sea, contributing to sustained high prices for chrome ore futures. Consequently, many buyers opted to book futures contracts rather than immediate purchases.
In the stainless steel market, activity remained subdued as companies prepared for the upcoming holidays. Consequently, there was a decrease in orders placed, leading to limited availability of stainless steel quotes in the market. While some merchants offered special deals, their impact on the overall market remained minimal.
Outlook
