Monthly Chrome Market Report December 2018
2019-01-11 15:55:17 【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
Generally, HC ferrochrome prices in December kept stable. Leading mills announced their tender prices of HC ferrochrome for December with a decline of RMB50/t (USD7.3/t), which was better than the market expectations. However, the spot transactions stay sparse with continuously weak demand this month. Producers mainly prepare shipment for steel mills and hold their prices firm supported by steady chrome ore prices at Chinese ports. Leading tenders continued to slide by RMB50/t (USD7.3/t) for January and some smelters lowered their offers slightly to encourage sales as they want to generate money by the year end.
LC ferrochrome prices kept declining this month with increasing output but ongoing weak demand.
European ferrochrome prices moved down on low liquidity in December and American ferrochrome market also decreased sharply on aggressive year-end selling amid weak demand.
Chrome ore prices at Chinese ports remained roughly stable this month. As the leading tender prices came better than expected, chrome ore traders at Chinese ports gained confidence in spot chrome ore prices, however, as the ferrochrome prices still hovered at low position, smelters did not show great interests to purchase chrome ore in large volume. Entering the second half of December, the market witnessed even slower transactions as insiders hold negative attitude towards the coming ferrochrome market, but chrome ore dealers refused to lower their prices as the current offers were already close to their cost.
Generally, HC ferrochrome prices in December kept stable. Leading mills announced their tender prices of HC ferrochrome for December with a decline of RMB50/t (USD7.3/t), which was better than the market expectations. However, the spot transactions stay sparse with continuously weak demand this month. Producers mainly prepare shipment for steel mills and hold their prices firm supported by steady chrome ore prices at Chinese ports. Leading tenders continued to slide by RMB50/t (USD7.3/t) for January and some smelters lowered their offers slightly to encourage sales as they want to generate money by the year end.
LC ferrochrome prices kept declining this month with increasing output but ongoing weak demand.
European ferrochrome prices moved down on low liquidity in December and American ferrochrome market also decreased sharply on aggressive year-end selling amid weak demand.
Chrome ore prices at Chinese ports remained roughly stable this month. As the leading tender prices came better than expected, chrome ore traders at Chinese ports gained confidence in spot chrome ore prices, however, as the ferrochrome prices still hovered at low position, smelters did not show great interests to purchase chrome ore in large volume. Entering the second half of December, the market witnessed even slower transactions as insiders hold negative attitude towards the coming ferrochrome market, but chrome ore dealers refused to lower their prices as the current offers were already close to their cost.
