Ferrochrome and Chrome Ore Transactions were Thin with Deadlock in the Market

SHANGHAI, May 11(SMM) - Quotations of high-carbon ferrochrome in Inner Mongolia stood at 9,800-9,900 yuan/mt(Cr50%), unchanged from the previous trading day.

The recent prices of ferrochrome and chrome ore have remained stable, with thin transactions and cautious market sentiment. Driving up by the cost of ferrochrome, the retail prices were more than 400 yuan above the prices of steel bidding. Under the expectation of reduced production at stainless steel mills, downstream traders were cautious about picking up goods while ferrochrome prices were under greater pressure from price hike. The cost of spot at steel mills suffered losses with reduced purchases. Most steels mills consumed their own raw materials inventory. If there are no profits in the future, steel mills may reduce or suspend production.