Chinese High-carbon Ferrochrome Output Rises 84,800 mt from Feb

SHANGHAI, Apr 11 (SMM) - Chinese high-carbon ferrochrome output stood at 630,300 mt in March, up 84,800 mt or 15.55% from the previous month and 45,700 mt or 7.82% on the year. The output in Inner Mongolia was 349,400 mt, up 31,000 mt or 9.74% MoM, and that in Guizhou stood at 57,500 mt, up 70.12% MoM. Ferrochrome prices were supported by the high chrome ore prices despite the poor consumption by the stainless steel sector in March. Bid prices of high-carbon ferrochrome at the leading stainless steel mills rose further. The profits of ferrochrome manufacturers increased somewhat in the month, greatly pushing up the output. Moreover, imported ferrochrome also flew into the market. However, the consumption did not improve as fast as expected, resulting in a severe supply surplus of ferrochrome.