[Ni] Prices of Domestic High Carbon Ferrochrome Rise Generally

SHANGHAI, Apr. 21 (CBI China) -- As domestic stainless steel market sentiment improved recently, and the price of imported high carbon ferrochrome increased, the price of domestic high carbon ferrochrome has been generally lifted to RMB 6,300-6,500/mt (50 basic price).

    Nickel price rebounded in April, and the price of stainless steel rose sharply as well, with active market sentiment. The downstream buyers were afraid that the stainless steel price will continue to rise, so they ordered goods from steel mills, leaving improved demand in stainless steel market. Recently, the prices for stainless steel raw materials including ferronickel and scrap stainless steel inched up, and the price for ferrochrome from India and South Africa increased as well, creating more upward room for the prices of domestic high carbon ferrochrome.

    Sources report that the prices for domestic high carbon ferrochrome were mainly in the RMB 6,300-6,500/mt range; prices were RMB 6,600/mt in Shanghai and Ningbo regions, without actual transactions. Some producers said they had no inventory in hand in view of completion of previous orders, and they had plans to raise the price. Some idle producers believe the fundamentals of ferrochrome remained weak currently, and many uncertainties still exist in the market, so they will take wait-and-see attitude.

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