China's ferro-chrome market weakened over the past week amid a lull in activity after domestic mills wrapped up their latest round of purchasing negotiations, while ore prices were supported by tight supply and firm demand from smelters.
Domestic Chinese ferro-chrome prices slide as purchasing wave ends South African and Turkish ore markets gain on tight supply European high carbon ferro-chrome prices hold in thin trading Japanese, Korean ferro-chrome prices stable amid limited interest US market maintains premium to global marketsChinese domestic ferro-chrome prices softened in the week ended Friday January 5 after major stainless steel mills completed their latest round of purchasing negotiations and prices were pressured lower amid a lack of significant activity.Metal Bulletin's price quotation for Chinese spot domestic ferro-chrome edged lower to 7,400-7,500 yuan ($1,140-1,156) per tonne on January 5, down from 7,600-7,800 yuan per tonne a week earlier.The new domestic price is equivalent to $0.88-0.89 cents per lb.Prior to the drop, ferro-chrome prices had risen as high as 7,600-7,800 yuan per tonne on the back of higher January tender prices from China's leading mills.Sources in China said that the conclusion of purchasing...