Major Chinese ferro chrome smelters, including Mintal, stopped offering material in the spot market on 29 Jun’21, declaring to cater solely to long-term contracts, as per reports. The companies issued a notice stating that due to power restrictions and frequent power cuts, production costs have increased significantly while output has shrunk. The notice came after the major mills increased their offer prices for the month. Currently, ferro chrome prices in Inner Mongolia are at RMB 8,000/t ($1,239/t), exw, which is expected to increase further.
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