- Rising coke prices push up smelting costs
- Rebound in stainless steel futures lifts buying
CBC: High-carbon ferro chrome prices remained stable due to firm chrome ore markets. Meanwhile, medium-carbon prices edged up on stronger special steel and new energy demand, with environmental regulations prompting production cuts at smaller smelters, further tightening supply and slightly lifting prices. However, weak end-user demand and cautious mill buying limited further gains.
High-carbon ferro chrome prices remained unchanged w-o-w at RMB 7,640-8,050/t ($1,064-1,121/t) exw, including taxes.
Medium-carbon ferro chrome prices went up slightly by RMB 100/t ($14/t) w-o-w at RMB 12,900-13,100/t ($1,797-1,825/t) exw, including taxes.
Market recap:
Chrome ore spot market remains firm: Prices stayed stable, with moderate trading activity in South African powder ore as traders waited for new steel guidance. Smelting costs rose after the fifth round of coke price hikes, but limited ore price gains provided only modest support.
Overseas ferro chrome production restart plans remained uncertain, and reduced imports continued to affect domestic supply.
New energy demand underpins FeCr prices: Stainless steel futures rebounded sharply, lifting steel mills buying interest in ferro chrome. However, end-user demand had yet to fully recover, and some mills were replenishing stocks on an as-needed basis.
Rising demand for low-carbon ferro chrome in new energy vehicle steel and wind power equipment was a key factor supporting medium- and micro-carbon ferro chrome prices.
Outlook
In the short term ,high-carbon ferro chrome prices will likely remain range-bound,with cost and demand dynamics preventing a clear market direction, while low- and medium-carbon grades are expected to trend upward on strong demand in niche sectors.
Leave a Reply