While much of our pessimistic outlook for ferrochrome over the past year has been related to fallinginput costs, in the form of falling oil and chrome ore prices being passed through to ferrochrome prices,we talk this month more of the collapse in demand growth for ferrochrome. With little demand growth,and thus little market tightness in the ferrochrome industry, there is little reason for prices to increase,particularly while input costs tread water. With stainless steel mills likely to cut back on production overthe coming months for maintenance, particularly in Europe, the short-term prospects for ferrochromeprices do not look good.
展开▼
