Asian Metal：Thank you for accepting Asian Metal's interview, Mr. Liu. First of all, could you please briefly introduce your chrome metal business?

Mr. Liu: We are a company of three A level and have acquired quality and environmental certifications with an annual output value of more than RMB1 billion (USD159 million), closely cooperating with many large steel plants and furnace burden traders in China. We stick to the tenet of "Guaranteed quality and professional service to satisfy customers" and adhere to the philosophy of "Put goodness ahead of profit, and truly serve the people". We are willing to provide the best products and service to consumers most in need by forging ahead via practical work and innovation. We have annual capacities of 1,000t for ferromolybdenum, 1,500t of ferrovanadium, and 2,000t of chrome metal at present.

Asian Metal：Chrome metal prices soared in March in the international market. What do you think is the main reason?

Mr. Liu: Chrome metal price has been stable at about RMB60,000/t (USD9,539/t) EXW Inc-VAT D/P since the beginning of March in China, while that soared in the international market. We believed mainly the tight supply rather than higher demand caused the price to rise substantially abroad. Therefore, the sustainability of the price surge is to be seen.

Asian Metal：How do you think of the raw material market of chrome metal?

Mr. Liu: We produce chrome metal out of chromium oxide green, the price of which is mainly affected by demand and supply relation and has stabilized at about RMB30,000/t (USD4,769/t) EXW Inc-VAT D/P. In addition, the ceramic companies run at a low operating rate, so chromium oxide green price is unlikely to rise. Prices for raw material chrome ore vibrate in a small range, showing little influence on the chromium oxide green market.

Asian Metal：Will the environmental tax to be imposed in April have an impact on the chrome metal industry?

Mr. Liu: The environmental tax is about to be imposed in April, but the specific implementation plan varies in different provinces with the specific details to be published in Liaoning. The environmental tax will lead the whole industry to develop more environmental-friendly and continuously.

Asian Metal：What kinds of advantages does Jinzou own compared with other chrome metal production areas?

Mr. Liu: There are quite a few chrome metal production plants and traders in Jinzhou, and the integrated industry chain has been formed. The chrome metal output in Jinzhou cannot be matched by other regions; in addition, Jinzhou enjoys obvious brand advantages.

Asian Metal：How do you look at the market trend of the material in April?

Mr. Liu: The chrome metal market is seeing balanced demand and supply and stable prices domestically. Besides, prices for raw material chromium oxide green have been stable since November 2017 after a rise of RMB1,000/t (USD159/t). Therefore, Chinese chrome metal prices will keep stable in the future viewed from angles of the cost and demand-supply relation.

Asian Metal：Would you please tell us your development plan?

Mr. Liu: Continuing to adhere to the principle of "Quality comes first and customer supremacy", we will forge ahead ceaselessly in the field of chrome metal and sponge titanium, and make innovative researches to contribute our share to the construction of related fields for China.

Asian Metal: Thank you once again for accepting the interview with us. Wish your company a better future!