Chrome Market Report August 2017
2017-09-08 17:28:49 【Print】
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Prices for ferrochrome kept moving up in August. As tender prices from steel mills for August were in line with those for July and supply for ferrochrome was relatively tight caused by stricter environmental protection inspections in places such as Sichuan in the month, prices for ferrochrome in the spot market rise sharply with the price increase of high carbon ferrochrome standing at about RMB2,000/t (USD306/t); while prices for low and extra-low carbon ferrochrome moved up by about RMB3,500/t (USD536/t) in August as those for raw materials such as siliconchromium increased. At the end of August, tender prices from steel mills for September were released which moved up by about RMB1,500/t (USD230/t) from last month. However, as spot prices for ferrochrome moved up dramatically previously, the price increase of spot material slowed down and prices for high carbon ferrochrome dropped slightly by RMB100-200/t (USD15.31-30.63/t) with spot prices for low and extra-low carbon ferrochrome keeping firm after the release of tender prices. In view of firm prices for chrome ore now, spot supply for ferrochrome will remain tight in September in the short term. Market participants anticipate that spot prices for ferrochrome will keep firm or edge up in September.
