China's ferro-chrome market cools after July peak

Spot ferro-chrome prices in China continued to correct downward after peaking at a 13-year high point at the end of July, despite the continuing output restrictions caused by power supply limitations in a number of production regions.

Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 400-500 yuan to 10,400-10,800 yuan ($1,603-1,665) per tonne on Tuesday August 10, from 10,800-11,300 yuan per tonne the week before.
Supply remained tight because of electricity restrictions in alloy-producing provinces such as Inner Mongolia, Guangxi, Guizhou and Hunan.
Nevertheless, the current high prices enticed suppliers to destock any cargoes they held, with offer prices reduced to conclude sales, Fastmarkets heard.
"Anyone with material is trying to destock at this point," a ferro-chrome trader said. "Given such good profits, they wouldn't mind [taking a price that was] a couple of hundred yuan [per tonne] lower as long as they can get the deals done and receive the money."

But spot demand was quiet among trading houses, which saw slim speculative opportunities and stayed on the sidelines of the market,...

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