Monthly Chrome Market Report Mar 2018
2018-04-16 16:34:23 【Print】
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1. Market Highlights
Purchase prices of HC ferrochrome from Chinese steel mills slightly increased by RMB100/t (USD15.96/t) for March which was lower than the growth range of RMB300-500/t (USD47.88-79.80/t) expected by Chinese ferrochrome producers. In addition, as end stainless steel market was in sluggish condition, most downstream buyers of ferrochrome purchased from hand to mouth, as a result, spot market of ferrochrome saw rare transactions. The electricity supply restriction in Guizhou expired in early March, so some local ferrochrome producers resumed production successively and ferrochrome supply increased accordingly. Prices for raw material chrome ore futures and spot prices of chrome ore at Chinese ports showed a slight downward trend. In summary, Chinese ferrochrome prices kept dropping in March. Late this month, Chinese stainless-steel plants released HC ferrochrome purchase prices for April with drop range of RMB500/t (USD79.80/t) mostly, therefore it is expected that Chinese ferrochrome prices would further move down in April.
As ferrochrome market showed a continuously sluggish condition in March, most ferrochrome producers purchased chrome ore from hand to mouth. Overseas chrome ore prices showed a slight downward trend, so spot market of chrome ore at Chinese ports witnessed quiet transactions and price decrease this month. Expecting a further price drop in ferrochrome market, analysts predict that spot prices for chrome ore at Chinese ports would further go down in April.
Purchase prices of HC ferrochrome from Chinese steel mills slightly increased by RMB100/t (USD15.96/t) for March which was lower than the growth range of RMB300-500/t (USD47.88-79.80/t) expected by Chinese ferrochrome producers. In addition, as end stainless steel market was in sluggish condition, most downstream buyers of ferrochrome purchased from hand to mouth, as a result, spot market of ferrochrome saw rare transactions. The electricity supply restriction in Guizhou expired in early March, so some local ferrochrome producers resumed production successively and ferrochrome supply increased accordingly. Prices for raw material chrome ore futures and spot prices of chrome ore at Chinese ports showed a slight downward trend. In summary, Chinese ferrochrome prices kept dropping in March. Late this month, Chinese stainless-steel plants released HC ferrochrome purchase prices for April with drop range of RMB500/t (USD79.80/t) mostly, therefore it is expected that Chinese ferrochrome prices would further move down in April.
As ferrochrome market showed a continuously sluggish condition in March, most ferrochrome producers purchased chrome ore from hand to mouth. Overseas chrome ore prices showed a slight downward trend, so spot market of chrome ore at Chinese ports witnessed quiet transactions and price decrease this month. Expecting a further price drop in ferrochrome market, analysts predict that spot prices for chrome ore at Chinese ports would further go down in April.
