The Power Shortage in Inner Mongolia Eased and the Ferrochrome Market was Stable

SHANGHAI, Jan 4 (SMM) - Today, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,600-8,800 yuan/mt (Cr50%) today, flat (Cr50%) from the previous trading day.

The ferrochrome market was generally stable. Although downstream steel mills still had restocking demand, they were less willing to purchase high-priced goods with the guidance of the mainstream big prices. Although the power shortage in Inner Mongolia has eased yesterday, the power supply gap still exists, which may lead to power restrictions in the near future. Amid the tight supply and the cost support, ferrochrome factories are less willing to ship at low prices. It is expected that the ferrochrome prices will remain stable recently.