Ferro-chrome market keeps firm

BEIJING (Asian Metal) 20 Apr 05 - Influenced by the boost in chrome ore prices from the foreign market, more HC ferro-chrome producers are planning to raise prices.

An official from a Shaanxi-based HC ferro-chrome smelter told Asian Metal that the company plans to increase its spot price of HC ferro-chrome to RMB6,700/t in May, up from RMB6,600/t this month.

According to the source, early this month the smelter concluded a HC ferro-chrome contract for April with some traders for RMB6,600/t with payment made in advance. The smelter has finished a portion of the contract and will deliver another 400t of HC ferro-chrome at end of this month.Asian Metal Copyright "We purchased chrome ore from traders with a price of around RMB40mtu for 50%min in February, but now the price is as high as RMB48mtu for 50%min," added the source.Asian Metal Copyright

At present, the smelter, with a production capacity of 2,000-3,000tpm, produces 1,000tpm HC ferro-chrome.

"Our concluded prices for micro carbon ferro-chrome are around RMB220/mtu now, up from a little over RMB200/mtu in February," an official from a Fujian-based smelter told Asian Metal. "We purchased chrome ore from traders with a price of around RMB40/mtu for 50%min in February, but now the price is as high as RMB48/mtu for 50%min," added the source.Asian Metal Copyright"Our concluded prices for micro carbon ferro-chrome are around RMB220mtu now, up from a little over RMB200mtu in February," an official from a Fujian-based smelter told Asian Metal.Asian Metal Copyright

The smelter is fully running on its 500tpm micro carbon ferro-chrome production capacity.