Ferrochrome market not strong in China

BEIJING (Asian Metal) 17 May 07 – The Chinese ferrochrome market is not strong any longer, as stainless steel manufacturers refused to accept high prices.

A senior executive from Hujiang Ferroalloy with a production capacity of 30,000tpy reported that local market is not profitable as he tries to sell high carbon ferrochrome 50% at RMB9,000/t (USD1,172/t d.u.) FCA, however, it is very difficult for buyers to accept. “Such a price is lower than our production cost, according to current chrome ore prices, the cost for each ton of high carbon ferrochrome goes up to RMB9,300/t (USD1,211/t d.u.),” said the source.
The source told that there are fewer ferrochrome producers in China primarily due to profit losses during the past half a year under the double pressures from too expensive chrome ore and less demand.

The source added to explain that manganese alloys prices are climbing up too fast, as there is much more demand from bulk steel industry. “Silicomanganese offer price is already over RMB9,000/t (USD1,172/t d.u.), but ferrochrome is at an embarrassing situation,” said the source.

Meanwhile, other Chinese ferrochrome producers are pessimistic at the prices.





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