Domestic supply pressure lowers imports of high-carbon ferrochrome

SHANGHAI, Jul 24 (SMM) – China’s imports of high-carbon ferrochrome, which is used in the production of stainless steel, declined 21.12%, or 68,000 mt, from May to stand at 254,000 mt in June, according to data from China Customs.

South Africa remained the biggest exporter, with about 89,000 mt of South African high-carbon ferrochrome entering China last month.

Supply pressure weighed on prices of high-carbon ferrochrome in June, which fell 400-500 yuan/mt (50% Cr) to 6,050 yuan/mt (50% Cr).

Imports are unlikely to pick up in July, given ample stockpiles at major stainless steel mills.