Monthly Chrome Market Report August 2018
2018-09-12 16:10:04 【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 August slid continuously. The purchase prices of HC ferrochrome for August from three major steel mills decreased sharply by RMB800/t (USD117/t). The stainless steel market entered to its traditional slow season and downstream demand for ferrochrome remained weak this month. Moreover, the total inventory of chrome ore at Chinese ports stood high and kept climbing in August. The ferrochrome prices lost the support from material cost as the chrome ore prices at Chinese ports and overseas continuously slid. The HC ferrochrome prices declined by about RMB400/t (USD58.3/t) from late July, and the LC ferrochrome prices decreased by about RMB600/t (USD87.4/t) by late August. However, the environmental inspection started in some LC ferrochrome production areas, such as Shanxi and Jiangsu, which made the spot supply of LC ferrochrome a little tense, and the prices of LC ferrochrome edge up by RMB200/t (USD29.1/t) at the end of August. Major steel mills announced their purchase prices for HC ferrochrome for September with a decline of RMB200/t (USD29.1/t), which was pretty in line with the expectation of the market. And it is believed that the stainless steel market would show uptrend in September, so does the demand for ferrochrome. Insiders predict the ferrochrome market would possibly remain stable in the coming month.
The chrome ore prices at Chinese ports went down continuously in August. The ferrochrome market this month stayed weak and ferrochrome producers became reluctant in purchasing chrome ore at Chinese ports. Moreover, the import prices of chrome ore from major production countries, such as South Africa and Turkey, kept decreasing, and the chrome ore market at Chinese ports was confronted with inversion of prices. Last but no least, the total inventory of chrome ore at Chinese ports reached up to 3.5 million tons and this number was still increasing. Traders at ports had to move down their prices to promote deals but the transactions could hardly get improved. However, as the ferrochrome market next month is supposed to stabilize and the cheap chrome ore inventory would run out in early September, it is believed that the chrome ore prices at Chinese ports would possibly stand stable in the coming weeks.
Generally, the ferrochrome market in August slid continuously. The purchase prices of HC ferrochrome for August from three major steel mills decreased sharply by RMB800/t (USD117/t). The stainless steel market entered to its traditional slow season and downstream demand for ferrochrome remained weak this month. Moreover, the total inventory of chrome ore at Chinese ports stood high and kept climbing in August. The ferrochrome prices lost the support from material cost as the chrome ore prices at Chinese ports and overseas continuously slid. The HC ferrochrome prices declined by about RMB400/t (USD58.3/t) from late July, and the LC ferrochrome prices decreased by about RMB600/t (USD87.4/t) by late August. However, the environmental inspection started in some LC ferrochrome production areas, such as Shanxi and Jiangsu, which made the spot supply of LC ferrochrome a little tense, and the prices of LC ferrochrome edge up by RMB200/t (USD29.1/t) at the end of August. Major steel mills announced their purchase prices for HC ferrochrome for September with a decline of RMB200/t (USD29.1/t), which was pretty in line with the expectation of the market. And it is believed that the stainless steel market would show uptrend in September, so does the demand for ferrochrome. Insiders predict the ferrochrome market would possibly remain stable in the coming month.
The chrome ore prices at Chinese ports went down continuously in August. The ferrochrome market this month stayed weak and ferrochrome producers became reluctant in purchasing chrome ore at Chinese ports. Moreover, the import prices of chrome ore from major production countries, such as South Africa and Turkey, kept decreasing, and the chrome ore market at Chinese ports was confronted with inversion of prices. Last but no least, the total inventory of chrome ore at Chinese ports reached up to 3.5 million tons and this number was still increasing. Traders at ports had to move down their prices to promote deals but the transactions could hardly get improved. However, as the ferrochrome market next month is supposed to stabilize and the cheap chrome ore inventory would run out in early September, it is believed that the chrome ore prices at Chinese ports would possibly stand stable in the coming weeks.
