Chrome Market Report January 2017
2017-02-15 11:03:49 【Print】
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During January, ferrochrome prices slid continuously. In mid-January, Tsingshan Holding Group was the first to announce its February bidding price for HC ferrochrome, which moved down by RMB800/t from that in January, driving market participants more pessimistic about the market in the future
. Moreover, with the approaching of the Spring Festival, downstream consumers were heavily affected by a watchful attitude, leading to inactive trading activities in the market . Some ferrochrome producers, under financial pressure, began to lower their prices in order to promote their sales, but their price downticks were confined to a limited ranged owing to high production costs. A few other Chinese steel plants also lowered their February bidding prices for ferrochrome by RMB800/t, and market participants commonly felt pessimistic about the Chinese ferrochrome market after the Spring Festival.