SMM July 23 News:
China imported 254000 tons of high-carbon ferrochromium in June, down 68000 tons from the previous month, or 21.12 per cent less than the previous month, according to customs data. Of these, 89000 tons were from South Africa, 52300 tons from Mozambique, 26500 tons from India and 10600 tons from Kazakhstan.
Imports of high-carbon ferrochromium in South Africa also increased by 42 per cent to 89000 tons in June, while imports of iron from Kazakhstan fell 78 per cent from a year earlier to 10600 tons, while iron imports from India rose 44 per cent to 26000 tons from a year earlier. In June, the domestic price of high-carbon ferrochromium weakened again and again, falling to 6050 yuan / ton. The circular reduction of import volume of high-carbon ferrochromium was mainly due to the high pressure of domestic supply, and the price all the way weakened, falling 400 yuan to 500 yuan / 50 base tons. In addition, the large stainless steel mills themselves have sufficient inventory. Imports are expected to stabilize or continue to decline slightly in July.
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