Ferrochrome Manufacturers Continued to Reduce the Production due to the Tight Chrome Ore Supply

Published: Jun 7, 2022 14:45

Source: SMM

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On May 24, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,300-9,500 yuan/mt (Cr50%) today, down 50 yuan/mt (Cr50%) from the previous trading day. The small and medium-sized ferrochrome manufacturers were in losses, and they continued to reduce or suspend the production after running out of inventories.

SHANGHAI, June 7 (SMM) - On May 24, the high-carbon ferrochrome in Inner Mongolia was quoted at 9,300-9,500 yuan/mt (Cr50%) today, down 50 yuan/mt (Cr50%) from the previous trading day. The small and medium-sized ferrochrome manufacturers were in losses, and they continued to reduce or suspend the production after running out of inventories. Although most large-scale ferrochrome manufactures maintained production, the operating rate of ferrochrome manufacturers declined as a whole. The output of ferrochrome in June is expected to fall. In June, it is expected that the amount of chrome ore arriving at ports will be small. Although ferrochrome plants reduced the production, most of them were small and medium-sized plant and demand for raw ore decreased greatly, hence the demand for fines was still good. The prices were hard to fall in the short term amid the price support of concentrate prices in South Africa.

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