[Ferro-Alloys.com]All the ferrochrome plants in Inner Mongolia have been shut down since Oct. 28 due to the APEC in Beijing. And they will not be resumed until Nov. 12. Thanks to the lower prices of power and coal, Inner Mongolia now is the largest area where China’s ferrochrome is produced. The closure of the plants for 15 days would shorten the supply of ferrochrome in short term. Glencore, the world’s largest ferrochrome producer, produced 287,000 tonnes ferrochrome in the third quarter of 2014, which was lower than that of the previous two quarters, which were 335,000 tonnes and 317,000 tonnes. The reduction was due to the planned annual maintenance in Jul and Aug. The production rate of ferrochrome in Southern China declined further, and some producers kept reducing their production in November. There might be no change to the ferrochrome prices in the coming two months.

 

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. The prices for low-carbon ferrochrome remained stable, and the prices for low-carbon ferrochrome C25, C10 were RMB11,500/T, RMB11,800/T in Liaoning, and RMB11,400/T, RMB11,600/T in Inner Mongolia. Meanwhile, the mainstream prices for silicon chromium were RMB7,700/T in China.

 

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, which increased the stock for the producers.

 

Copyright @ 2014 Ferro-Alloys.Com. All Rights Reserved. Please write to sunzhichao@ferro-alloys.com for help.