Trades Cooled Down amid Sufficient Ferrochrome Supply

SHANGHAI, Mar 22 (SMM) - On March 22, the prices of high-carbon ferrochrome in Inner Mongolia were 9000-9200 yuan/mt (Cr 50%), flat from the previous trading day.

The price of stainless steel kept falling. Under the weak consumption, steel mills further reduced the production, and thus the demand for ferrochrome is expected to decline. The supply of ferrochrome in south Africa has not declined significantly due to the shortage of electricity. The import of ferrochrome has increased significantly from January to February. But the recovery of consumption was not smooth, hence the prices of ferrochrome are unlikely to fall.