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Print[ferro-aloys.com]Chineseferrochrome buyers withdrew from importing market due to weak local market. It is reported that import price of high carbon ferrochrome soured from India slid from 85 to 87 cents per pound Cr to 85 to 86 cents per pound Cr.
Last week, market participants offered the quote of 85 to 86 cents per pound Cr (CFR), but no transactions finalized with Indian exporters. In South Africa, ferrochrome (48-52%) was quoted at 85 cents per poundCr (CIF, China), the price was reported to be acceptable.
Traders said that some buyers expected a price of 82 to 83 cents per pound Cr (CFR or CIF), while this price was disagreed by suppliers.
The dropping of bidding price of stainless steel has an impact of spot price of domestic high carbon ferrochrome. Bidding price of high carbon ferrochrome in August sees a drop of 50 to 100 per tonne (50Cr basis) month on month. In spot market, mainstream price stands at 6800-7000 per tonne (50Cr basis) equivalent to 84 to 86 cents per pound Cr.
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