- Stable supply and steady costs support prices
- Cautious downstream demand limits upside
China’s high-carbon ferro chrome prices remained flat w-o-w as of 6 January 2026 at RMB 8,290-8,700/t ($1,187-1,246 /t) exw, including taxes. Meanwhile, medium-carbon ferro chrome prices remained stable w-o-w at RMB 12,600-12,800/t ($1,804-1,834/t) exw, including taxes.
Ferro chrome prices remained stable on steady raw material costs and balanced supply, but were weighed down by cautious downstream demand.
Market recap
Raw material market trends
Chrome ore prices remained stable, supported by steady supply from South Africa and Turkiye. The impact of freight rates and exchange rate movements on costs was limited. Domestic inventories were adequate, with smelters relying mainly on long-term contracts and limited spot activity.
Coke prices remained firm, while overall smelting costs stayed stable. The raw material market provided moderate support to ferro chrome prices without creating any significant upward or downward pressure.
Downstream market
The stainless steel sector, the main consumer of ferro chrome, maintained a stable production pace, but slow recovery in end-use demand kept steel mills cautious about raw material procurement. Demand from the automobile and home appliance sectors remained stable, offering limited support to medium-carbon ferro chrome.
Demand for micro-carbon ferro chrome from the new energy sector improved but remained limited. Overall, downstream demand was mainly for essential replenishment, with weak stocking interest keeping ferro chrome prices under pressure.
Outlook
Ferro chrome prices are expected to remain range-bound, supported by stable raw material costs, while cautious downstream demand is likely to cap any significant upside.
(With inputs from CBC)
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