Monthly Chrome Market Report Feb 2018
2018-03-21 17:12:25 【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
Purchase prices from steel mills for February of HC ferrochrome went up by RMB600/t (USD94.77/t), in addition, affected by the Spring Festival holiday, Chinese ferrochrome spot market saw rare transactions this month. However, owing to the increase of purchase prices from steel mills for February, prices for Chinese ferrochrome remained firm. During the Spring Festival holiday, ferrochrome producers in Huizhou and Hunan suspended production for electricity supply restriction, and some producers in other production areas also suspended production for the holiday to different extent, therefore ferrochrome market saw slightly tight spot supply. After the holiday, as producers successively resumed production, supply in the market increased; however, downstream buyers had not returned the market and purchase prices from steel mills for March were about to be released, resulting in strong watchful attitude and quiet transactions on the market. Ferrochrome producers slightly raised prices by RMB100/t (USD15.80/t) considering firm chrome ore prices late this month. Purchase prices from steel mills for March released in early March only went up slightly by RMB100/t (USD15.80/t), which was lower than RMB300-500/t (USD47.38-78.97/t) expected by ferrochrome producers. Analyst predicts that prices for Chinese ferrochrome would move down in March.
Purchase prices from steel mills for February of HC ferrochrome went up by RMB600/t (USD94.77/t), in addition, affected by the Spring Festival holiday, Chinese ferrochrome spot market saw rare transactions this month. However, owing to the increase of purchase prices from steel mills for February, prices for Chinese ferrochrome remained firm. During the Spring Festival holiday, ferrochrome producers in Huizhou and Hunan suspended production for electricity supply restriction, and some producers in other production areas also suspended production for the holiday to different extent, therefore ferrochrome market saw slightly tight spot supply. After the holiday, as producers successively resumed production, supply in the market increased; however, downstream buyers had not returned the market and purchase prices from steel mills for March were about to be released, resulting in strong watchful attitude and quiet transactions on the market. Ferrochrome producers slightly raised prices by RMB100/t (USD15.80/t) considering firm chrome ore prices late this month. Purchase prices from steel mills for March released in early March only went up slightly by RMB100/t (USD15.80/t), which was lower than RMB300-500/t (USD47.38-78.97/t) expected by ferrochrome producers. Analyst predicts that prices for Chinese ferrochrome would move down in March.
