Ferrochrome Prices Stayed Firm amid Tight Sources for Retail Sales

SHANGHAI, Sep 19 (SMM) – On September 19, quotes of high-carbon ferrochrome in Inner Mongolia stood at 7,800-7,900 yuan/mt (Cr 50%), flat from the previous trading day. Most of the ferrochrome plants under operation only maintained limited output for the delivery of long-term orders, leading to a tight availability in the spot market. In addition, the prices of chromium ore have been on the rise recently, thus the high-priced raw materials also provided strong cost support for ferrochrome plants to hold firm to their prices. Stainless steel prices continued to grow, which restored the confidence in ferrochromium market. More inquiries were heard from downstream traders, and steel mills became more reluctant to sell. It is expected that ferrochrome prices will increase in the near future.