Jiusteel, Baosteel and TISCO all cut the HC FeCr purchase price sharply for April which contributed to great disappoint mood in chrome market. Many ferrochrome smelters began to hesitate whether to halt production or not in short future on such poor situation.
Main stainless steel mills hit the raw material price by setting the low purchase price, which has work in chrome market during this week.The current quotation of HC FeCr lower to RMB 6900-7100/mt (USD0.85-0.87/1b 50% basis ex-work price by cash）in China, many ferrochrome producers had to lower the current quotation due to weak demand.
The price of low carton ferrochrome and ex-low carton ferrochrome kept stable without many deals. FeCr55C25 from Jilin province quoted RMB12, 300-12,400/mt (USD1.965-1,981/mt， export duty not included), and the price of FeCr55C10 was RMB12,400-12,500/mt (USD1,981-1,997/mt, export duty not included). All the prices above included tax.
The price ofSillionchrome 72# was RMB 8000-8100/mt in northwest of china and metal chrome 99-A quote at RMB56, 000-57,000/mt.
For international market, the price of South Africa and India increased slightly as they quoted USD0.90-0.91 /b and 0.0.91-0.92/b. HC ferrochrome in Europe maintained at USD1.02-1.06/b and in America down to USD 1.00-1.03/b.
Chrome market remained flat after Tomb-sweeping Day in China. There were no improvements in market, Chinese ferrochrome market faced great pressure, and manufacturers had expressed concern about the market outlook. High-carbon ferrochrome price will be maintain at low level in short future.