Monthly Chrome Market Report September 2018
2018-10-12 11:50:31 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Generally, the ferrochrome market in September kept climbing. The purchase prices of HC ferrochrome from major steel mills further declined by RMB200/t (USD28.9/t) for September, so the production rate reduced, especially for many producers in South China who could not purchase cheap chrome ore from Tianjin port, which led to relatively tight supply in the spot market throughout this month. Besides, the chrome ore prices at the beginning of this month hovered at low position, but these cheap goods ran out quickly and other chrome ore dealers who suffer less from capital pressure would not accept previous low prices, so the chrome ore prices gradually went up in September. From the above, the prices of ferrochrome in September kept increasing. Approaching the National Day holiday in October, many steel mills started a new round purchase activities and Tsingshan Steel led to announce its purchase prices of HC ferrochrome for October, up by RMB300/t (USD43.4/t) from last month. It is believed the prices of ferrochrome in October would stand firm.
The chrome ore prices at Chinese ports went up in September. Some chrome ore traders at Chinese ports moved down their prices in order to collect money, so the finalized prices of chrome ore came pretty low at the beginning of this month. As these chrome ore stock was sold out, other traders who would not accept great loss held their prices pretty firm, which dragged the chrome ore prices back slightly. On the other hand, the chrome ore prices also got well supported by the increasing ferrochrome prices. However, the inventory of chrome ore at Chinese ports still stood high and more cheap goods are arriving at ports in October, so it would be hard for chrome ore prices to keep climbing in the coming month.
Generally, the ferrochrome market in September kept climbing. The purchase prices of HC ferrochrome from major steel mills further declined by RMB200/t (USD28.9/t) for September, so the production rate reduced, especially for many producers in South China who could not purchase cheap chrome ore from Tianjin port, which led to relatively tight supply in the spot market throughout this month. Besides, the chrome ore prices at the beginning of this month hovered at low position, but these cheap goods ran out quickly and other chrome ore dealers who suffer less from capital pressure would not accept previous low prices, so the chrome ore prices gradually went up in September. From the above, the prices of ferrochrome in September kept increasing. Approaching the National Day holiday in October, many steel mills started a new round purchase activities and Tsingshan Steel led to announce its purchase prices of HC ferrochrome for October, up by RMB300/t (USD43.4/t) from last month. It is believed the prices of ferrochrome in October would stand firm.
The chrome ore prices at Chinese ports went up in September. Some chrome ore traders at Chinese ports moved down their prices in order to collect money, so the finalized prices of chrome ore came pretty low at the beginning of this month. As these chrome ore stock was sold out, other traders who would not accept great loss held their prices pretty firm, which dragged the chrome ore prices back slightly. On the other hand, the chrome ore prices also got well supported by the increasing ferrochrome prices. However, the inventory of chrome ore at Chinese ports still stood high and more cheap goods are arriving at ports in October, so it would be hard for chrome ore prices to keep climbing in the coming month.
