Chinese LC ferrochrome prices down
2024-04-10 08:32:01 [Print]
BEIJING (Asian Metal) 10 Apr 24 – Most Chinese suppliers of LC ferrochrome decreased prices to promote sales due to weak demand this week. The current mainstream prices of Chinese LC ferrochrome C0.25%max stand at RMB14,300-14,500/t (USD1,972-2,000/t) EXW D/P, down by about RMB100/t (USD14/t) from early last week. Considering weak demand, insiders predict that the mainstream prices of Chinese LC ferrochrome would go down further in the week to come.
A producer from Inner Mongolia notes that they decreased price of LC ferrochrome C0.25%max by RMB100/t (USD14/t) to about RMB14,400/t (USD1,986/t) EXW D/P early this week due to weak demand. "We did not close any deals so far this week and last sold about 60t at RMB14,500/t (USD2,000/t) early last week", said the producer, who mainly delivers long term contracts with no inventory pressure. They predict that the mainstream prices of Chinese LC ferrochrome would go down further in the week to come.
The producer, with an annual production capacity of 15,000t of LC ferrochrome, plans to produce about 1,500t in April, stable from last month. They hold no stocks at the moment, unchanged MoM.
"We quote RMB14,500/t (USD2,000/t) EXW D/P for LC ferrochrome C0.25%max today, and would like to sell at RMB14,400/t (USD1,986/t) for firm bids, while we refused prices less than RMB14,700/t (USD2,028/t) early last week", another producer in Sichuan notes. They sold about 30t at RMB14,400/t (USD1,986/t) yesterday and sold about 30t at RMB14,700/t (USD2,028/t) early last week. Many buyers are in no hurry to pick up goods, which are already paid, due to weak demand. They anticipate that the mainstream prices of Chinese LC ferrochrome would edge down further in the coming week.
Based on a annual production capacity of 70,000t of LC ferrochrome C0.25%max, the producer predicts to produce around 600t in April, down by about 200t from last month due to maintenance. They produced around 3,000t so far in 2024 and almost 6,500t in 2023.
A producer from Inner Mongolia notes that they decreased price of LC ferrochrome C0.25%max by RMB100/t (USD14/t) to about RMB14,400/t (USD1,986/t) EXW D/P early this week due to weak demand. "We did not close any deals so far this week and last sold about 60t at RMB14,500/t (USD2,000/t) early last week", said the producer, who mainly delivers long term contracts with no inventory pressure. They predict that the mainstream prices of Chinese LC ferrochrome would go down further in the week to come.
The producer, with an annual production capacity of 15,000t of LC ferrochrome, plans to produce about 1,500t in April, stable from last month. They hold no stocks at the moment, unchanged MoM.
"We quote RMB14,500/t (USD2,000/t) EXW D/P for LC ferrochrome C0.25%max today, and would like to sell at RMB14,400/t (USD1,986/t) for firm bids, while we refused prices less than RMB14,700/t (USD2,028/t) early last week", another producer in Sichuan notes. They sold about 30t at RMB14,400/t (USD1,986/t) yesterday and sold about 30t at RMB14,700/t (USD2,028/t) early last week. Many buyers are in no hurry to pick up goods, which are already paid, due to weak demand. They anticipate that the mainstream prices of Chinese LC ferrochrome would edge down further in the coming week.
Based on a annual production capacity of 70,000t of LC ferrochrome C0.25%max, the producer predicts to produce around 600t in April, down by about 200t from last month due to maintenance. They produced around 3,000t so far in 2024 and almost 6,500t in 2023.
