Chrome Market Report May 2017
2017-06-08 17:45:45 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
Steel plants delayed to release steel bidding prices which decreased largely while chrome ore prices declined by about 60% in May, so ferrochrome prices continued to go down in May. With stainless steel selling bad and environmental inspections in May, most domestic steel plants cut or suspended production for maintenance, so the ferrochrome demand decreased sharply. With Taiyuan Steel’s bidding price slumping by RMB2,700/t (USD397/t), the spot market of ferrochrome saw a cliff-like drop and chrome ore prices crashed accordingly. With ferrochrome buyers showing more interests in watching the market, the spot market saw limited transactions in the whole May, so producers decreased their spot offers in view of stocks pressure. Considering ferrochrome demand from steel plants hard to be changed in June, most insiders expect spot ferrochrome prices will go down further in June with a negative attitude towards steel plants’ bidding prices for June.
CIF prices for chrome ore slumped in May, with those for South African chrome ore plunging by about 60% in specific. Chinese steel plants’ demand for ferrochrome slowed down, leading to ferrochrome prices slumping; ferrochrome producers had little interest in chrome ore purchases, so chrome ore furthers prices slumped accordingly and Chinese ports saw significantly decreasing prices for chrome ore; therefore, transactions of both furthers and at Chinese ports were limited. In the end of May, South African chrome ore producers were willing to raise prices along with increasing enquiries from Chinese buyers, but the market saw scarce transactions at high level. Domestic chrome ore traders with stocks at ports united to stop selling, intending to raise their offers. However, chrome ore prices are expected to go down further as the chrome ore market is hard to be supported.
CIF prices for chrome ore slumped in May, with those for South African chrome ore plunging by about 60% in specific. Chinese steel plants’ demand for ferrochrome slowed down, leading to ferrochrome prices slumping; ferrochrome producers had little interest in chrome ore purchases, so chrome ore furthers prices slumped accordingly and Chinese ports saw significantly decreasing prices for chrome ore; therefore, transactions of both furthers and at Chinese ports were limited. In the end of May, South African chrome ore producers were willing to raise prices along with increasing enquiries from Chinese buyers, but the market saw scarce transactions at high level. Domestic chrome ore traders with stocks at ports united to stop selling, intending to raise their offers. However, chrome ore prices are expected to go down further as the chrome ore market is hard to be supported.
