Monthly Chrome Market Report August 2018

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).Asian Metal Copyright4t by late August.Asian Metal Copyright The stainless steel market entered to its traditional slow season and downstream demand for ferrochrome remained weak this month.Asian Metal Copyright 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.Asian Metal Copyright Moreover, the total inventory of chrome ore at Chinese ports stood high and kept climbing in August.Asian Metal Copyright 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.Asian Metal Copyright 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.Asian Metal Copyright 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 RMB200t USD29.Asian Metal Copyright And it is believed that the stainless steel market would show uptrend in September, so does the demand for ferrochrome.Asian Metal Copyright Market Highlights Generally, the ferrochrome market in August slid continuously.Asian Metal Copyright 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.Asian Metal Copyright3t from late July, and the LC ferrochrome prices decreased by about RMB600t USD87.Asian Metal Copyright 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.Asian Metal Copyright Market Highlights Generally, the ferrochrome market in August slid continuously.Asian Metal Copyright Last but no least, the total inventory of chrome ore at Chinese ports reached up to 3.Asian Metal Copyright1.Asian Metal Copyright5 million tons and this number was still increasing.Asian Metal Copyright The ferrochrome prices lost the support from material cost as the chrome ore prices at Chinese ports and overseas continuously slid.Asian Metal Copyright Traders at ports had to move down their prices to promote deals but the transactions could hardly get improved.Asian Metal Copyright .Asian Metal Copyright 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.

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