[Ferro-Alloys.Com]In the first week of  September, mainstream HC ferrochrome price remained the same as last week at RMB6,200-6,450/T. The price can neither rise nor fall due to the strong chrome ore price and weak downstream demand. HC ferrochrome is being normally produced in most factories. A few producers showed their intentions to stop producing. Those producers who have stopped the production for months are unwilling to resume and expect for better market opportunities.

Import price remained stable for both spot and futures ferrochrome last week. Burden ferrochrome from South Africa was quoted at RMB6,400-6,500/T, ferrochrome from India at RMB6,500-6,600/T, and ferrochrome from Kazakhstan at RMB7,600-7,700/T. Futures price for ferrochrome from South Africa,  India and Kazakhstan was USD0.8-0.83/lb, USD0.82-0.83/lb and USD0.93-0.94/lb respectively. Chinese buyers had no desire for purchasing the imported ferrochrome due to the weak downstream demand and low price of domestic product, further more, they would like to take bargain offers. On the other hand, ferrochrome from South Africa and India was quoted at higher price because of their higher cost. Deals were seldom made between the sellers and buyers due to the large price spread.

 

In the EU market, HC ferrochrome (C6-8%,Cr60-65%) was quoted at USD1.04-1.12/lb Cr, LC ferrochrome (C0.1, Cr60-70%) at USD2.08-2.15/lb Cr. In the US market, HC ferrochrome （C6-8%,Cr60-65%）was mainly quoted at USD1.15(+0.04)-1.18/lb Cr Ex Pittsburgh , MC ferrochrome （C0.05，Cr65%min）at USD2.25-2.28/lb Cr, LC ferrochrome C0.1,Cr62%min）mainly at USD2.08-2.12/lb Cr FOB Pittsburgh.

 

Price for LC ferrochrome remained stable compared to last week. Producers are willing to sell due to the increase of the stockpile. Currently, price for LC ferrochrome (C0.25%) is mainly quoted at RMB11,700-11900/60mt, MC ferrochrome (C0.1%) mainly at RMB12,000-12,200/mt, MC ferrochrome (C0.06%) mainly at RMB12,200-12,400/mt ex work. Price of material silicon chromium kept steady with Gansu and Inner Mongolia quotation at RMB7,700-7,800/T, and quotation from Sichuan was RMB7,600-7,700/T (Cash).

 

Chrome metal price in China and EU kept stable this week with a flat market and volume. It is expected that there would be no big changes to the price. Currently, mainstream price for chrome metal is quoted at RMB58,000-61,000/T in Jinzhou. In Henan and Hunan, it is quoted at RMB54,000-55,000/T. And it is quoted at USD9,300-9625/T in EU market.

 

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