Ferrochrome Plants Suffered Losses and the Trading was Slack

SHANGHAI, Jun 8 (SMM) - On June 8, quotes of high-carbon ferrochrome in Inner Mongolia stood at 9,300-9,500 yuan/mt (Cr 50%), flat from the previous trading day.

In June, the production schedule of stainless steel is expected to continue to decline. In the short term, the supply of high-carbon ferrochrome is still sufficient, and the trading will be slack. Ferrochrome plants continued to suffer losses. On one hand, coke prices stopped falling and stabilised, and coke companies intend to raise their prices. On the other hand, ferrochrome prices have been raised by the higher chrome ore prices aroused by the tight supply. With the improvement of the pandemic outbreak, terminal consumption will become better. The market shall keep an eye on the recovery of stainless steel consumption.