SHANGHAI, Nov 1 (SMM) - On November 1, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,500-8,700 yuan/mt (Cr50%) today, flat from the previous trading day.
The purchase prices of steel mills were basically in line with the previous market expectations. Ferrochorme plants were less willing to hold the prices firm, and the retail quotations gradually get closer to the purchase prices of steel mills. The ferrochrome plants in north China that stopped the production in the early stage still had raw material inventory. After the increase in purchasing prices, the profits increased. Therefore, ferrochrome plants were more willing to resume the production and the output is expected to increase. The prices of high-carbon ferrochrome will remain stable in the short term.
