FeCr price dropped by RMB50/mtu in June. Considering the high costs pressure, suppliers had to reduce the storage for raw materials. The transaction of chrome ore was not that active.

Till the end of this week, the imported prices of ferrochrome CIF Chinese ports had been as follows, India ferrochrome, USD0.82-0.83/lb Cr; South African ferrochrome, USD0.81-0.82/lb;

This week steel mills gradually released their June purchase prices of FeCr in China and the basic situation was that the steel mills had kept normal volume with generally cutting RMB50/mt over last month

Stocks of Cr ores were about 2.4-2.6millon mt in May and it fell by 10,000mt compared with previous month,

Under this weak condition, the chrome ores traders had to cut down the import volume. In the first four months of 2014, the total import of Cr ores declined by 9.5% year on year.

It was acknowledged that one major stainless steel mill of China-Jiuquan Iron & Steel (Group) Co., Ltd (Tisco) had settled the high carbon ferrochrome benchmark price at RMBXX/mt

It was acknowledged that one major stainless steel mill of China-Tsingshan Group had settled the high carbon ferrochrome benchmark price at RMBXX/mt, falling by RMBXX/mt than that of Apr.

According to the latest statistics, from Jan. to Apr., the total import volume of high carbon ferrochrome of Japan was 242thousand tons, rising by 19.8% compared with that of last year