Monthly Chrome Market Report May 2018
2018-06-12 13:00:15 【Print】
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1. Market Highlights
The ferrochrome market in May stays weak in general. As the purchase prices of HC ferrochrome for May from major steel mills were released early this month, down by RMB600/t (USD93.9/t) from April, the spot prices of HC ferrochrome decreased immediately by RMB200/t (USD31.3/t), then remained unchanged for a week. When the purchase activities of major steel mills were finished, the ferrochrome producers burdened less from their stock and would like to increase their prices. Meanwhile, the chrome ore prices at Chinese ports and overseas stood firm and the prices of petroleum and coke climbed slightly. So the prices of HC ferrochrome went up by RMB200/t (USD31.3/t) to above RMB7,000/t (USD1,096/t) at the end of this month. As the three major stainless-steel plants released HC ferrochrome purchase prices for June with up range of RMB200/t (USD31.3/t) mostly, it is expected that Chinese ferrochrome prices would slightly go up in June.
The chrome ore prices at Chinese ports went down in early May as the prices of ferrochrome decreased, and then went up continuously in the rest of June as the ferrochrome prices increased. Expecting a slight increase in ferrochrome market in June and the prices of chrome ore overseas stand firm, analysts predict the spot prices for chrome ore at Chinese ports would remain steady in June.
The ferrochrome market in May stays weak in general. As the purchase prices of HC ferrochrome for May from major steel mills were released early this month, down by RMB600/t (USD93.9/t) from April, the spot prices of HC ferrochrome decreased immediately by RMB200/t (USD31.3/t), then remained unchanged for a week. When the purchase activities of major steel mills were finished, the ferrochrome producers burdened less from their stock and would like to increase their prices. Meanwhile, the chrome ore prices at Chinese ports and overseas stood firm and the prices of petroleum and coke climbed slightly. So the prices of HC ferrochrome went up by RMB200/t (USD31.3/t) to above RMB7,000/t (USD1,096/t) at the end of this month. As the three major stainless-steel plants released HC ferrochrome purchase prices for June with up range of RMB200/t (USD31.3/t) mostly, it is expected that Chinese ferrochrome prices would slightly go up in June.
The chrome ore prices at Chinese ports went down in early May as the prices of ferrochrome decreased, and then went up continuously in the rest of June as the ferrochrome prices increased. Expecting a slight increase in ferrochrome market in June and the prices of chrome ore overseas stand firm, analysts predict the spot prices for chrome ore at Chinese ports would remain steady in June.
