Chinese spot ferro chrome prices have gradually increased by up to RMB 300/t to RMB 8,400/t ($ 1,300/t). Prices rose by RMB 100/t d-o-d due to the following factors:
- Production in the northern provinces declined amidst power curtailment.
- Major ferro chrome smelters in Inner Mongolia have stopped offering in the spot market.
- Tsingshan increased its purchase tender prices by RMB 950/t for Jul’21 deliveries.
- Chrome ore prices increasing in China amidst burgeoning freight costs.
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