Short-term Ferrochrome Prices to Gain Support from the Tight Spot Supply

SHANGHAI, Feb 17 (SMM) - On February 17, the prices of high-carbon ferrochrome in Inner Mongolia were 9,100-9,300 yuan/mt (Cr 50%), flat from the previous trading day.

This afternoon, news came out from the market that a large ferrochrome producer in Inner Mongolia had dealt with a buyer in the south for high-carbon ferrochrome natural lumps at a price of 9,650 yuan/mt (Cr 50%), with a transaction volume of 8,000 mt. Recently, chrome ore inventory at port has remained low. Many ferrochrome plants still suffered losses from their spot raw materials. And it is difficult for them to resume production. Short-term ferrochrome and chrome ore prices will be supported by the unresolved supply tightness of ferrochrome and chrome ore.