Ferrochrome Prices Rose Slightly amid the Cost Support and Pre-Holiday Restocking Demand

Published: Jan 10, 2023 16:37

Source: SMM

Save

Today, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,700-9,000 yuan/mt (Cr50%) today, up 150 yuan/mt (Cr50%) from the previous trading day.

SHANGHAI, Jan 10 (SMM) - Today, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,700-9,000 yuan/mt (Cr50%) today, up 150 yuan/mt (Cr50%) from the previous trading day.

Amid the approaching Chinese New Year, the logistics services may be halted in the later period. And the bid prices offered by some special steel mills increased significantly amid the pre-holiday restocking period. The arrivals of chrome ore is expected to be insufficient, and thus miners are generally optimistic about the post-holiday market. Coupled with the strong pre-holiday restocking demand, the prices of chrome ore remain strong, which provides cost support of ferrochrome prices. Although the overall market transactions were still relatively thin, the low-priced goods were sold out amid the pre-holiday restocking period and the cost support. It is expected that the prices of ferrochrome will remain strong before the CNY holiday.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

22 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

22 hours ago

23 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

23 hours ago