China ferro-chrome market pushed down on poor demand, weak sentiment

Slow trading activity amid poor demand pressured China's spot ferro-chrome prices down in the week to Tuesday March 24, with weakened sentiment clouding the near-term outlook with signs of easing supply tightness against a falling UG2 chrome ore market, sources said.

Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price moved down by 200 yuan ($30.69) to 8,500-8,700 yuan per tonne on Tuesday, from 8,700-8,900 yuan the week prior.
Spot buyers have shied away from the previously high prices, which led to suppliers' willingness to lower prices to secure business, Fastmarkets heard.
"There's nobody buying in the spot market, traders already suspect alloy prices had reached the ceiling so would only sell instead of building up expensive inventory at this moment," a trader source said.

Despite the expectation that restrictions in the ferro-chrome production heartland of Inner Mongolia are going to last in the second quarter, the increased output in southern regions as well...

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