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[Ni] Domestic Chrome Market Remains Depressed

Property Prices Firm up in 1Q

SHANGHAI, Apr. 7 (CBI China) -- It is said that due to production cuts at steel mills and the negative impact of imported ferrochrome, a portion of domestic ferrochrome factories were ready for production suspension in fierce price competitions; the price and trade volumes of chrome ore fell along with increasing production stoppages at ferrochrome factories, leading to very slim transactions. The depressed domestic chrome market was deteriorating.
&nbsp;&nbsp;&nbsp; At present, the mainstream price of domestic high carbon ferrochrome was RMB 5,800-60,000/mt, leaving price disadvantages to the factories compared to the price of imported ferrochrome at RMB 5,500-5,600/mt. In this context, the stainless steel mills will prefer to low-cost imported ferrochrome in view of current weak demand and capital pressure. As India and South Africa intended to take up more market shares in China, the price of imported ferrochrome will remain unknown in the future. The price of domestic high carbon ferrochrome is likely to meet downward pressure in the future.
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