China ferro-chrome market softens on expectations of lower monthly tender price

Ferro-chrome prices in China ticked down this week ahead of announcements of alloy tender prices for April-delivery from the country's major stainless steel mills.

Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price widened downward by 100 yuan to 8,400-8,700 yuan ($1,280-1,326) per tonne on Tuesday March 30.
Despite the drop, suppliers were reluctant to cut their offers further before mills issued their tenders.
"Suppliers don't want to initiate lower prices before tender prices are released, so you see very little businesses in the spot market," a trader source said.
But market participants did report some business at the lower end of the range in the spot market during the assessment period.

Major stainless steel mills in China had raised their high-carbon ferro-chrome tender prices for March by 700 yuan ($108) per tonne due to supply concerns after Ulanqab, the main ferro-chrome production hub in China's Inner Mongolia region, ordered smelters to shut down their small-sized furnaces and...

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