Chinese LC ferrochrome prices to decrease
2023-03-10 08:30:09 [Print]
BEIJING (Asian Metal) 10 Mar 23 – Most suppliers hold pessimistic attitudes due to the weak market demand
A trader from South China mentioned that they hold pessimistic attitudes towards the weak market demand, and they predict the mainstream prices would decrease in the coming week. "We quote RMB15,000/t (USD2,154/t) EXW D/P for LC ferrochrome Cr55%min C0 . 25%max with no concession at present, unchanged from early this week". They received the prices from producers at RMB14,500-14,600/t (USD2,083-2,097/t) EXW D/P this week. They did not conclude any deal this week and last sold around 5t at RMB15,000/t (USD2,154/t) EXW D/P late last week . They might move down their price in the following week.
The trader, based on a regular monthly trading volume of around 60t of LC ferrochrome Cr55%min C0.25%max, predicts to sell around 60t in March, unchanged from last month . They have around 30t of stocks at present.
A consumer from North China disclosed that they received the quotation at RMB14,900/t (USD2,139/t) delivered D/P with the delivery freight of RMB200/t (USD28.72/t) this week. They finally purchased at RMB14,850/t (USD2,133/t) delivered D/P for around 30t yesterday . "We predict the market prices would decrease more in the coming two weeks, so we only purchase around 30t instead of 60t, and we would purchase another 30t in late March", adding the consumer.
The consumer, with the annual consumption capacity of 12,000t of LC ferrochrome Cr55%min C0.25%max, predicts to consume around 30t in March, unchanged from last month . They have around 30t of stocks at present.
. Currently, the mainstream prices for Chinese LC ferrochrome Cr55%min C0.25%max stand at RMB14,900-15,100/t (USD2,140-2,168/t) EXW D/P, unchanged from early this week . Insiders predict the mainstream prices would move down in the coming week due to the weak demand and the pessimistic attitudes.
A trader from South China mentioned that they hold pessimistic attitudes towards the weak market demand, and they predict the mainstream prices would decrease in the coming week. "We quote RMB15,000/t (USD2,154/t) EXW D/P for LC ferrochrome Cr55%min C0 . 25%max with no concession at present, unchanged from early this week". They received the prices from producers at RMB14,500-14,600/t (USD2,083-2,097/t) EXW D/P this week. They did not conclude any deal this week and last sold around 5t at RMB15,000/t (USD2,154/t) EXW D/P late last week . They might move down their price in the following week.
The trader, based on a regular monthly trading volume of around 60t of LC ferrochrome Cr55%min C0.25%max, predicts to sell around 60t in March, unchanged from last month . They have around 30t of stocks at present.
A consumer from North China disclosed that they received the quotation at RMB14,900/t (USD2,139/t) delivered D/P with the delivery freight of RMB200/t (USD28.72/t) this week. They finally purchased at RMB14,850/t (USD2,133/t) delivered D/P for around 30t yesterday . "We predict the market prices would decrease more in the coming two weeks, so we only purchase around 30t instead of 60t, and we would purchase another 30t in late March", adding the consumer.
The consumer, with the annual consumption capacity of 12,000t of LC ferrochrome Cr55%min C0.25%max, predicts to consume around 30t in March, unchanged from last month . They have around 30t of stocks at present.