A mixed month on the spot market points to a slowdown in activity and a stabilization of prices as a result, but spot market prices are unlikely to fall much further, at least in China, by far the largest single market. Long-term cost pressures remain and supply is likely to tighten by the end of this year but, before then, prices are likely to remain subdued and the possibility of a reduction in the contract price remains. The wait for the third-quarter ferro-chrome contract price does continues as of writing. As during second-quarter negotiations, both consumers (stainless steel producers) and sellers (ferro-chrome smelters) are sticking firmly to their demands, and negotiations are being prolonged as a result.
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