A combination of tight chrome ore supplies, restricted domestic output and robust demand from the stainless steel sector ensured that Chinese ferrochrome prices began the New Year on an upward trajectory. Spot prices started to rise in early December following reports of increased power costs. It seems that many ferrochrome producers in the Sichuan province have been forced to reduce output in recent months due to a combination of power shortages caused by the dry season and higher electricity tariffs, with reports of one 150,000tpy plant closing down altogether at the beginning of December.
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