Ferrochrome Transactions were Modest and the Prices Remain Stable

SHANGHAI, May 31 (SMM) - On May 25, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,400-9,600 yuan/mt (Cr50%) today, flat (Cr50%) from the previous trading day.

The purchasing prices in June of Tsingshan Group, Baosteel Group and TISCO gradually released, flat from last year and slightly higher than expectation. Although the operating rates were high and the supply was loose, the ferrochrome prices were hard to increase as the recent transactions were poor. The amount of chrome ore arriving at ports decreased, and the transaction was still modest due to the poor profits. The ferrochrome pices remained stable amid the weak demand and supply. There were some overhauls of ferrochromium manufacturers, and the supply of ferrochromium in June may decline.