- Raw material trends support ferro chrome production costs
- Steady stainless steel demand sustains market sentiment
China’s high-carbon ferro chrome prices edged up w-o-w as of 14 January 2026 to RMB 8,390-8,800/t ($1,202-1,261 /t) exw, up by RMB 100/t ($14/t) including taxes. Meanwhile, medium-carbon ferro chrome prices also moved up w-o-w to RMB 12,800-13,000/t ($1,834-1,863/t) exw, including taxes.
The ferro chrome market posted measured gains, supported by balanced supply-demand dynamics in the high-carbon segment, firm ore costs, cautious sentiment, and selective demand-led price strength across medium- and low-carbon segments.
Market recap
Raw material market trends
Chrome ore prices have stayed slightly strong, supporting ferro chrome production costs. Supply from major regions like South Africa and Turkiye is steady, though reluctance to sell at low levels keeps prices supported.
High-carbon ferro chrome margins remain healthy, while medium- and low-carbon grades see slight improvements on stronger demand. Overall sentiment is cautiously optimistic, with stable capital inflows into raw materials and limited speculative activity sustaining market confidence.
Downstream market
The stainless steel industry, has maintained steady production, underpinning ferro chrome demand. High-carbon ferro chrome sees stable usage in standard stainless steel, while medium- and low-carbon grades experience moderate growth in specialty steel applications.
The policy environment favours manufacturing development, exerting a neutral effect on downstream markets. Market sentiment remains cautiously optimistic, with investors largely taking a wait-and-see stance, and fund flows showing no significant abnormalities.
Outlook
Ferro chrome prices are likely to remain divergent, with high-carbon stable and medium- to low-carbon slightly rising. Supply-demand balances will stay tight, stainless steel demand is stable, and market sentiment will remain cautious amid manageable cost pressures.
(With inputs from CBC)
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