Tender Prices for Ferrochrome in November from China’s Major Stainless Steel Producers

 

[Ferro-Alloys.com]The latest tender prices of ferrochrome from China’s major stainless steel producers remained the same as last month. The prices ceased to decline caused by the dry season of Southern China and the closure of ferrochrome plants in Inner Mongolia by the APEC where more than half of volume of China’s ferrochrome is produced. On the other hand, the steel mills lowered their tender prices since the beginning of 2014 in order to offset the rising prices of nickel, while the nickel metal price dropped dramatically in recent two months, which lowered the costs of the steel mills in purchasing alloys and eased the falling of ferrochrome prices.

Ferrochrome prices kept stable in late October. Prices were rmb6,300-6,400/50mt, rmb6,200-6,300/50mt and rmb6,400-6,500/50mt in Sichuan, Inner Mongolia and Jilin respectively. 

 

High-carbon ferrochrome C6-8%,Cr60-65% and low-carbon ferrochrome C0.1%,Cr60-70% were quoted at $1.02-1.05/lb Cr and $2.07-2.12/lb Cr in EU market. High-carbon ferrochrome C6-8%,Cr60-65%, micro-carbon ferrochrome C0.05%,Cr65min% and low-carbon ferrochrome C0.1%,Cr62min% were quoted at $1.12-1.16/lb Cr Ex Warehouse Pittsburgh, $2.25-2.27/lb Cr and $2.10-2.12/lb Cr FOB Pittsburgh respectively.

 

The chrome metal price remained the same as the previous week at $8,800-9,200/t. And the prices of chrome metal in Jinzhou and Tianjin kept stable at rmb58,000/t Ex Works, and rmb54,000-55,000/t Ex Works in Gansu. The prices of low-carbon ferrochrome dipped in Qinghai by about rmb200/mt. Currently, micro-carbon ferrochrome C0.1% was quoted at rmb11,800/mt and low-carbon ferrochrome C0.25% was rmb11,500/t. The market capacity for micro-and low-carbon ferrochrome narrowed recently, whcih increased the stock for the producers.

 

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