European FeCr prices may start climbing from March

摘要

Spot prices for HC FeCr have been at $0.76-0.80/lb Cr DDP in Europe in January (-1 month-on-month), and LC?FeCr ones - at $1.52/lb Cr DDP on average (-2.5 m-o-m). The price trend may reverse in China by the end of Q1. FeCr supply is still excessive in the country, but normalizes. By Metal Expert's estimate, it will exceed estimated consumption by 7 in January, still being two times lower compared to Q4. In December, some local plants announced production cutbacks of around 35,000 tpm (5 of the market volume) for the next few months. By Metal Expert's estimate, this will help the market stabilize as consumption is supposed to be the same. The price trend is likely to reverse afterwards.