SMM Comments: Downstream Remained Wait-and-See, with Stable Ferrochrome Prices and Light Transactions

SHANGHAI, Mar 22(SMM) - High-carbon ferrochrome of Inner Mongolia quoted at 9,000-9,200 yuan/mt (Cr 50%), flat from the previous trading day. Prices of ferrochrome stabilised recently, while prices of chrome ore, coke rose much more than the previous period. The costs of ferrochrome production increased, leading to iron plants standing firm for the prices. But the port inventory of chrome ore had increased, while the prices of small-sized metallurgical coke prices dropped. With the approach of the steel bidding, downstream took goods in caution and the market remained wait-and-see with light transactions.It is expected that the prices of high-carbon ferrochrome will be stable and wait for the results of steel bidding.