Monthly Chrome Market Report October 2018
2018-11-12 08:59:13 【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 October remained stable. The purchase prices of HC ferrochrome from major steel mills increased by RMB300/t (USD43.2/t) for October, which strongly supported the HC ferrochrome prices to stand stable despite of the continuous weak demand. Ferrochrome producers mainly supplied for orders from steel mills directly and closed weak spot transactions. However, TISCO took the lead to announce its tender price of HC ferrochrome for November with a decline of RMB100/t (USD14.4/t), and the HC ferrochrome prices moved down accordingly at the end of this month, and it is predicted that the prices of HC ferrochrome would futher reduce by about RMB100-200/t (USD14.4-28.8/t) in November. While the LC ferrochrome prices stood quite firm this month mainly due to the relatively tight supply restricted by environmental inspection happened in some production areas, such as Shanxi. It is reported that the output would further reduce as environmental inspection would start in Sichuan, so the tight supply would not be improved in early November, and insiders believe the LC ferrochrome prices would continue to edge up in the coming month.
In general, South African chrome ore prices stayed unchanged this month, while Turkish chrome ore prices increased slightly. With the steady ferrochrome market and quick reduction of chrome ore at Chinese ports, chrome ore traders moved up their prices of South African chrome ore in mid-October, but had to move it down as the tender prices of HC ferrochrome from major steel mills for November decreased. However, the mainstream chrome ore lump became tight in supply at Chinese ports this month, so the prices of Turkish chrome ore lump increase and stood firm this month. Insiders believe the prices of South African chrome ore concentrate would further decrease, while Turkish chrome ore prices stand firm in the coming month.
Generally, the ferrochrome market in October remained stable. The purchase prices of HC ferrochrome from major steel mills increased by RMB300/t (USD43.2/t) for October, which strongly supported the HC ferrochrome prices to stand stable despite of the continuous weak demand. Ferrochrome producers mainly supplied for orders from steel mills directly and closed weak spot transactions. However, TISCO took the lead to announce its tender price of HC ferrochrome for November with a decline of RMB100/t (USD14.4/t), and the HC ferrochrome prices moved down accordingly at the end of this month, and it is predicted that the prices of HC ferrochrome would futher reduce by about RMB100-200/t (USD14.4-28.8/t) in November. While the LC ferrochrome prices stood quite firm this month mainly due to the relatively tight supply restricted by environmental inspection happened in some production areas, such as Shanxi. It is reported that the output would further reduce as environmental inspection would start in Sichuan, so the tight supply would not be improved in early November, and insiders believe the LC ferrochrome prices would continue to edge up in the coming month.
In general, South African chrome ore prices stayed unchanged this month, while Turkish chrome ore prices increased slightly. With the steady ferrochrome market and quick reduction of chrome ore at Chinese ports, chrome ore traders moved up their prices of South African chrome ore in mid-October, but had to move it down as the tender prices of HC ferrochrome from major steel mills for November decreased. However, the mainstream chrome ore lump became tight in supply at Chinese ports this month, so the prices of Turkish chrome ore lump increase and stood firm this month. Insiders believe the prices of South African chrome ore concentrate would further decrease, while Turkish chrome ore prices stand firm in the coming month.
