Ferrochrome

摘要

While Chinese domestic HC ferrochrome spot prices rose in the New Year, and peaked at up to Rmb8,300/t delivered in January, quotes have since fallen, down Rrnb150/t to average Rmb8,050/t in February. Buying activity has died down with the onset of the Chinese New Year in mid-February. Meanwhile, ore prices have flattened out, with Turkish high-grade lumpy at 340 dollars/t cif China, and South African 44% concentrate at 220 dollars/t. As stainless output resumes after the New Year in March, and with Chinese ferrochrome costs at over Rmb8,000/t, we expect prices to firm next month.