Chrome Ore Strengthens, Supporting Ferrochrome Prices; Post-Holiday Market Fluctuates Upward [SMM Daily Review]

On February 10, the price of high-carbon ferrochrome in Inner Mongolia was 7,300-7,500 yuan/mt (50% metal content), unchanged from the previous trading day. After the Chinese New Year holiday, market purchasing and restocking demand rebounded, leading to increased market activity. Currently, the operating rate of ferrochrome producers remains low, and pre-holiday restocking has caused tightness in retail supply. The recent rise in chrome ore prices has also driven ferrochrome prices higher. Although ferrochrome prices have risen in the retail market, the issue of high raw material inventories at some large stainless steel mills has not been fundamentally resolved, which may limit further price increases. Moving forward, attention should be paid to the production schedules of stainless steel mills and stainless steel consumption to assess market trends.

》Subscribe to view SMM historical spot metal prices