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Home / Metal News / Ferrochrome Prices Stabilized amid the Approaching Steel Bidding

Ferrochrome Prices Stabilized amid the Approaching Steel Bidding

May 25, 2022 15:38

Source:SMM

The ferrochrome market had insufficient confidence amid the approaching steel bidding and the weak stainless steel consumption.

SHANGHAI, May 25 (SMM) - On May 25, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,400-9,600 yuan/mt (Cr50%) today, flat from the previous trading day. The ferrochrome market had insufficient confidence amid the approaching steel bidding and the weak stainless steel consumption. In this case, it is expected that the bid prices may remain flat or even lower than that of the previous week, hence more plants sold at low prices.

However, the port inventory of chrome ore was still low. In addition, the amount of arrivals to the port is expected to be low in June, and the the chrome ore prices are hard to drop of sharply. It is expected that the price of ferrochrome will decline slightly in the short term.

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