Ferrochrome Prices to be Stable with Cost Support

SHANGHAI, Feb 7 (SMM) - On February 7, the prices of high-carbon ferrochrome in Inner Mongolia were 9,200-9,400 yuan/mt (Cr 50%), flat from the previous trading day.

Ferrochrome consumption by stainless steel companies did not improve palpably, suppressing the ferrochrome plants' bullish outlook for the prices and downstream traders' expected price hike of ferrochrome. The supply tightness of chrome ore still firmly supports ferrochrome prices. SMM believes that the short-term prices of high-carbon ferrochrome will be stable.