Chinese HC ferrochrome suppliers hold pessimistic attitudes
2023-04-18 08:34:37 [Print]
BEIJING (Asian Metal) 18 Apr 23 – Most suppliers hold pessimistic attitudes due to the weak demand. Currently, the mainstream prices for Chinese HC ferrochrome Cr52%min C8%max stand at RMB8,400-8,600/t (USD1,222-1,251/t) EXW D/P at present, down by RMB100/t (USD14.54/t) from late last week. Insiders predict the mainstream prices would decrease in the coming week due to the weak demand and the pessimistic attitudes.
A trader from North China mentioned that they hold pessimistic attitudes towards the market prices due to the weak demand and predict the mainstream prices would decrease in the coming week. "We offer RMB8,500/t (USD1,236/t) EXW D/P for HC ferrochrome Cr52%min C8%max and could accept the price as low as RMB8,450/t (USD1,229/t) for regular customers at present, down by RMB100/t (USD14.54/t) from late last week", adding the trader. They last sold around 30t at RMB8,650/t (USD1,258/t) in early April. They received the inquiries from customers who only asked for prices in the recent weeks. They might decrease their price in the following week.
The trader, based on a regular monthly trading volume of around 2,400t of HC ferrochrome Cr52%min C8%max, predicts to sell around 2,400t in April, unchanged from March. They have no stock at present.
A producer from North China disclosed that they hold negative attitudes towards the market demand and already stopped their production late last week. "We offer RMB8,500/t (USD1,237/t) EXW D/P for HC ferrochrome Cr52%min C8%max with no concession at present, down by RMB100/t (USD14.54/t) from late last week", adding the producer. They last sold around 60t at RMB8,650/t (USD1,258/t) EXW D/P in early April. They explained that they stopped their production late last week due to the weak demand and high prices of chrome ore. They received the South African concentrate 40%min quotation at RMB53/dmtu (USD7.71/dmtu) with no concession this week. They predict the mainstream prices would move down in the coming week.
The producer, with an annual production capacity of 80,000t of HC ferrochrome Cr52%min C8%max, estimates to produce around 3,000t in April, down by around 1,100t from last month. They hold no stock at present.
A trader from North China mentioned that they hold pessimistic attitudes towards the market prices due to the weak demand and predict the mainstream prices would decrease in the coming week. "We offer RMB8,500/t (USD1,236/t) EXW D/P for HC ferrochrome Cr52%min C8%max and could accept the price as low as RMB8,450/t (USD1,229/t) for regular customers at present, down by RMB100/t (USD14.54/t) from late last week", adding the trader. They last sold around 30t at RMB8,650/t (USD1,258/t) in early April. They received the inquiries from customers who only asked for prices in the recent weeks. They might decrease their price in the following week.
The trader, based on a regular monthly trading volume of around 2,400t of HC ferrochrome Cr52%min C8%max, predicts to sell around 2,400t in April, unchanged from March. They have no stock at present.
A producer from North China disclosed that they hold negative attitudes towards the market demand and already stopped their production late last week. "We offer RMB8,500/t (USD1,237/t) EXW D/P for HC ferrochrome Cr52%min C8%max with no concession at present, down by RMB100/t (USD14.54/t) from late last week", adding the producer. They last sold around 60t at RMB8,650/t (USD1,258/t) EXW D/P in early April. They explained that they stopped their production late last week due to the weak demand and high prices of chrome ore. They received the South African concentrate 40%min quotation at RMB53/dmtu (USD7.71/dmtu) with no concession this week. They predict the mainstream prices would move down in the coming week.
The producer, with an annual production capacity of 80,000t of HC ferrochrome Cr52%min C8%max, estimates to produce around 3,000t in April, down by around 1,100t from last month. They hold no stock at present.
