Chrome price rising but still under USD5,800/t

BEIJING (Asian Metal) 17-Mar -2005 Western sources are reporting that chrome metal price has increased a lot to a level of as high as over USD6,100/t, while some major Chinese smelters think that the price is not so high and it is some major industry players who are intentionally frying the market.

"The prices reported have already been too high to be possible at least in view of current market conditions. We are a producer of chrome, but our offers were refused by buyers, even at a price of over USD5,800/t," aN executive from a major chrome metal smelter told Asian Metal, adding that the market is really rising, but not so much.Asian Metal Copyright The producer is fully operating on its over 2,000tpy production capacity for chrome metal.Asian Metal Copyright The producer is fully operating on its over 2,000tpy production capacity for chrome metal.

"If you purchase, we quote you USD5,750/t with validity within this week," a senior sales manager of another major chrome producer said. "If for 20-30t a batch, the price of USD5,750/t is a minimum, while we could consider a price of USD5,700/t for a order not less than 60t.Asian Metal Copyright"The prices reported have already been too high to be possible at least in view of current market conditions.Asian Metal Copyright"

After nearly two years' stoppage, the producer just recovered its production last Oct and by the moment, it has exported over 400t of its chrome metal output.

With a production capacity of over 2,000tpy, it is running on a 200tpm basis.