Spot ferrochrome prices stop decline after large mills' Dec tenders

SHANGHAI, Dec 6 (SMM) – Spot prices of high-carbon ferrochrome stopped their decline after steel mills settled purchasing prices in their tenders for December.  

In Inner Mongolia, downstream buyers restocked actively and this improved spot transactions on Wednesday December 6. Traded prices of high-carbon ferrochrome (50% Cr) in Inner Mongolia stood at 6,650-6,700 yuan/mt as of Wednesday, flat from a week ago. 

As of December 6, Jiuquan Iron & Steel settled its December purchasing price of high-carbon ferrochrome (50% Cr) at 6,946 yuan/mt, down 50 yuan/mt from November, SMM learned.

The price includes tax and transportation, and payments will be made in cash. Procurement volume was lower than its typical level as the company put its steel production lines and hot-rolled coil rolling lines into regular maintenance this month. 

By the end of November, Baosteel Desheng Stainless Steel settled its December purchasing price of high-carbon ferrochrome (50% Cr) in a tender, at 6,950 yuan/mt, on acceptance with tax and transport costs included. 

This was also down 50 yuan/mt from its November’s purchasing price, SMM learned.

Separately, three submerged-arc furnaces for producing high-carbon ferrochrome will commission in Guangxi province by the end of December, SMM research found. The three furnaces include one of 12,500 KVA and two of 16,500 KVA.