Market Expectations Are Pessimistic, Ferrochrome Prices Fluctuate Downward [SMM Daily Review]

On January 8, the price of high-carbon ferrochrome in Inner Mongolia was 7,000-7,200 yuan/mt (50% metal content), unchanged from the previous trading day. As the Chinese New Year approaches, market transactions have slightly recovered, and ferrochrome producers have reduced retail production, leading to tighter retail supply in the market. However, due to a significant decline in stainless steel production in January, demand for ferrochrome has correspondingly decreased. The bidding prices for ferrochrome by steel mills are expected to continue to decline. Market expectations remain pessimistic, and with the continuous arrival of low-priced chrome ore in the future, ferrochrome prices are expected to remain weak.

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