Chrome Market Report January 2016

In January, Chinese high carbon ferrochrome 50%min prices were quite volatile as they experienced stability before plunging and finally bounced back slightly.Asian Metal Copyright Started from January 13, steel mills began to publish tender prices, which blew the confidence of the participants and resulted in a RMB350t decrease of the mainstream prices.Asian Metal Copyright Early the month, while participants waiting for major steel mills’ tender prices, many expected these buyers to increase purchase volumes and not slash the prices, so the mainstream prices were able to trend horizontally. Started from January 13, steel mills began to publish tender prices, which blew the confidence of the participants and resulted in a RMB350/t decrease of the mainstream prices.Asian Metal Copyright Imports of chrome ore decreased again this month.Asian Metal Copyright At the end of January, many producers chose to suspend production or reduce output due to the approaching of the Spring Festival, so the market supply was tightened, as a result, the prices went up by small scale.

In the low carbon and extra-low carbon ferrochrome markets, supply and demand have been balanced, so major ferrochrome producers insisted on keeping prices stable for most of the month and only raised quotations by small scale at the end of the month due to limited stocks.

Imports of chrome ore decreased again this month. Major producers and traders with long-term contracts insisted on importing the material, and many traders chose to remove stocks and quit the spot market with watchful attitude.
.Asian Metal Copyright At the end of January, many producers chose to suspend production or reduce output due to the approaching of the Spring Festival, so the market supply was tightened, as a result, the prices went up by small scaleAsian Metal Copyright