- Domestic mills cautious about procurement
- New energy demand fuels LC ferro chrome market
High-carbon ferro chrome prices inched up by RMB 100/t (14/t) w-o-w at RMB 8,490-8,900/t ($1,193-1,251/t) exw, including taxes.
Medium-carbon ferro chrome prices also rose slightly by RMB 100/t ($14/t) w-o-w to RMB 13,800-14,000/t ($1,940-1,968/t) exw, including taxes.
CBC: Chinese ferro chrome prices went up slightly over the week, supported by stable ore supply, cautious domestic buying, and growing demand for low-carbon grades from the new energy sector.
Market Updates:
Mixed trends in the chrome ore market: Turkish prices remained firm on geopolitical factors and South African prices eased slightly amid improved logistics. Stabilized coke prices had reduced cost pressures, while low port inventories continued to support ferrochrome producers.
Domestic mills stayed cautious, adopting demand-driven procurement, which kept the raw material market in a subdued supply-demand balance.
Stainless steel sector remains under pressure:Demand remained limited for high-carbon ferro chrome, although renewed overseas orders provide partial support. Demand for low and medium-carbon ferro chrome in special steel stays stable, while seasonal destocking in the automobile and home appliance sectors has slowed procurement.
Growing demand from the new energy sector supported low-carbon ferro chrome, though buyers preferred smaller, staggered purchases due to funding constraints.
Outlook
In the short term, the ferro chrome market will continue to fluctuate, with high-carbon ferro chrome likely to rise ahead of steel mill bids, while low- and medium-carbon grades will remain supported by costs, limiting downside risk.
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