Affected by Pandemic, Prices of Chrome Ore Rose, and Price of Ferrochrome Strengthened as Demand Picked Up

Published: Oct 13, 2022 17:16

Source: SMM

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On Oct 25, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,200-8,400 yuan/mt (Cr50%) today, flat from the previous trading day.

SHANGHAI, Oct 13 (SMM) - On Oct 25, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,200-8,400 yuan/mt (Cr50%) today, flat from the previous trading day.

The pandemic situation in Inner Mongolia was serious. Some cargo yards in Tianjin port restrict the entry of vehicles from Inner Mongolia. As such, the problem of chrome ore shipment further aggravated. In addition, due to the impact of the strike in South Africa, the ferrochrom plants were more willing to restock and the prices of chrome ore rose. The cost support of ferrochrome is strong. With the expected increase in stainless steel production, the demand for ferrochrome will increase, and the supply of spot ferrochrome may continue to tight. It is expected that the prices of ferrochrome will remain strong in the near future.

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