Ferrochrome Market was Weak and Shipments were Less amid Sufficient Supply

Published: May 24, 2022 16:14

Source: SMM

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On May 24, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,400-9,600 yuan/mt (Cr50%) today, down 100 yuan/mt (Cr50%) from the previous trading day.

SHANGHAI, May 24 (SMM) - On May 24, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,400-9,600 yuan/mt (Cr50%) today, down 100 yuan/mt (Cr50%) from the previous trading day.

Although the spot raw material cost of most ferrochrome plants was too high since May, the there was a certain amount of raw material in-plant inventory. Therefore, the operating rates was high, and the supply of ferrochrome was sufficient. Affected by the pandemic, stainless steel terminal consumption was weak and the stainless steel output declined. In this case, ferrochrome consumption weakened, and the shipments were low. Therefore, the low-priced deals increased recently.

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