Chrome Market Report January 2017

During January, ferrochrome prices slid continuously. In mid-January, Tsingshan Holding Group was the first to announce its February bidding price for HC ferrochrome, which moved down by RMB800/t from that in January, driving market participants more pessimistic about the market in the future.Asian Metal CopyrightDuring January, ferrochrome prices slid continuously.Asian Metal Copyright Moreover, with the approaching of the Spring Festival, downstream consumers were heavily affected by a watchful attitude, leading to inactive trading activities in the market.Asian Metal Copyright In mid-January, Tsingshan Holding Group was the first to announce its February bidding price for HC ferrochrome, which moved down by RMB800t from that in January, driving market participants more pessimistic about the market in the future.Asian Metal Copyright Some ferrochrome producers, under financial pressure, began to lower their prices in order to promote their sales, but their price downticks were confined to a limited ranged owing to high production costs. A few other Chinese steel plants also lowered their February bidding prices for ferrochrome by RMB800/t, and market participants commonly felt pessimistic about the Chinese ferrochrome market after the Spring Festival.
.Asian Metal Copyright A few other Chinese steel plants also lowered their February bidding prices for ferrochrome by RMB800t, and market participants commonly felt pessimistic about the Chinese ferrochrome market after the Spring FestivalAsian Metal Copyright