[Ni] Prices of Domestic High Carbon Ferrochrome Stabilize

SHANGHAI, May 5 (CBI China) -- During previous two weeks, prices of domestic high carbon ferrochrome inched up due to rising prices of imported high carbon ferrochrome and tightness of domestic resource supply. While the price remained stable during this week, moving in the RMB 6,400-6,500/mt (50 basic price) range, with actual traded price in the RMB 6,200-6,300/mt. Ferrochrome producers said although the downstream consumption experienced no actual improvements, the current operating rates at large steel mills were high, leading to stable demand for ferrochrome, so the price will remain stable as well in the short term.

    Sources report that a large volume of imported high carbon ferrochrome will arrive at Chinese ports in early and mid May, and the market insiders said most of the goods were ordered in March and were from India, for the price of imported ferrochrome was relatively low in March.

    Rumors report that Baosteel released the bid price at RMB 6,200/mt, while Taiyuan I/S issued the bid price at RMB 6,300/mt. The market insiders believe the prices were in line with current market prices.

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