Monthly Chrome Market Report Nov 2017
2017-12-13 17:44:37 【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
Although steel mills' purchasing prices of high carbon ferrochrome for November dropped by RMB500/t (USD75.55/t), which was within market participants' expectation, downstream buyers generally purchased the material from hand to mouth and transactions were sluggish in the month as the newly added capacity of ferrochrome in Q4 in Inner Mongolia was released gradually and the ferrochrome market saw oversupply on the whole in November. But prices for high carbon ferrochrome in the spot market were expected to remain stable before steel mills released purchasing prices for December. By the end of the month, domestic steel mills' purchasing prices of high carbon ferrochrome for December decreased sharply by RMB800/t (USD121/t) and some capacity of stainless steel was transferred to that of plain carbon steel in December; as a result, demand for ferrochrome decreased and producers in Southwest China considered halting production in view of high electricity cost. It is expected that spot prices for ferrochrome in Chinese market would drop further but limitedly in December.
Although steel mills' purchasing prices of high carbon ferrochrome for November dropped by RMB500/t (USD75.55/t), which was within market participants' expectation, downstream buyers generally purchased the material from hand to mouth and transactions were sluggish in the month as the newly added capacity of ferrochrome in Q4 in Inner Mongolia was released gradually and the ferrochrome market saw oversupply on the whole in November. But prices for high carbon ferrochrome in the spot market were expected to remain stable before steel mills released purchasing prices for December. By the end of the month, domestic steel mills' purchasing prices of high carbon ferrochrome for December decreased sharply by RMB800/t (USD121/t) and some capacity of stainless steel was transferred to that of plain carbon steel in December; as a result, demand for ferrochrome decreased and producers in Southwest China considered halting production in view of high electricity cost. It is expected that spot prices for ferrochrome in Chinese market would drop further but limitedly in December.
