On August 27, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,100-8,300 yuan/mt (50% metal content); in Sichuan and north-west China, the ex-factory price of high-carbon ferrochrome was 8,100-8,400 yuan/mt (50% metal content); in east China, the quoted price of high-carbon ferrochrome was 8,200-8,400 yuan/mt (50% metal content); in South Africa, the quoted price of high-carbon ferrochrome was 7,900-8,000 yuan/mt (50% metal content); in Kazakhstan, the quoted price of high-carbon ferrochrome was 8,900-9,100 yuan/mt (50% metal content), up 50-100 yuan/mt (50% metal content) MoM from the previous trading day.
On the day, the ferrochrome market held up well. During the phase of digesting the sentiment of steel mill tender price increases, the retail ferrochrome prices continued to rise due to factors such as high costs and tight supply. Some factories have signed retail orders until mid-to-late September, and the tradable volume of spot ferrochrome in the market remains scarce, supporting further price increases for ferrochrome. In terms of costs, the seventh round of coke price increases has been implemented, coupled with the continuous rise in spot chrome ore prices, enhancing the cost pressure on ferrochrome production, and producers are maintaining firm quotes. Additionally, as the "September-October peak season" approaches, the downstream stainless steel market has gradually released its procurement demand for ferrochrome, and many producers are optimistic about the future ferrochrome prices, expecting the ferrochrome market to continue to hold up well.
Regarding raw materials, on August 27, 2025, the spot price of 40-42% South African chrome ore fines at Tianjin Port was 55.5-56 yuan/mtu; the price of 40-42% South African raw ore was 50-52 yuan/mtu; the price of 46-48% Zimbabwean chrome concentrate was 57.5-59 yuan/mtu; the price of 48-50% Zimbabwean chrome concentrate ore was 59-61 yuan/mtu; the price of 40-42% Turkish chrome lump ore was 60-61 yuan/mtu, unchanged MoM from the previous trading day. In the futures market, the offer for 40-42% South African chrome ore fines was $273-275/mt; the offer for 48-50% Zimbabwean chrome concentrate was $335-345/mt, unchanged MoM.
On the day, the chrome ore market performed well, with spot prices slightly increasing, and the new round of futures offers rising by $4, boosting market sentiment. High quotes of 57-58 yuan/mtu emerged for 40-42% South African chrome ore fines, with South African raw ore prices rising to +11, +12, and quotes of 62 yuan/mtu appearing for 48-50% Zimbabwean chrome concentrate ore. Currently, the pace of inquiries and purchases for chrome ore has slowed down WoW. On the one hand, many ferrochrome producers have already completed raw material stocking during the previous period of low chrome ore prices, and the current demand release is limited; on the other hand, transportation restrictions at Tianjin Port have limited chrome ore transportation, and producers mostly choose to make purchases after the restrictions are lifted. Therefore, recent actual transactions of chrome ore have remained stable, with weak short-term purchase demand. It is expected that the chrome ore market will mainly maintain a stable and positive development trend.
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