The spot ferro-chrome market in China continued its downward trend in the week to Tuesday April 20, despite some newly implemented production cuts in southern parts of the country.
Following
Inner Mongolia's energy cuts, a couple of other regions issued notices about dual control of energy consumption and intensity in the past week.
Some smelters in Guangxi province were heard to have idled their furnaces for one week from late last week, which was likely to reduce ferro-chrome output in that particular province by 5,000 tonnes, market participants estimated.
But this reduction failed to forestall the consequences for ferro-chrome prices, which fell for a fifth consecutive week.
Fastmarkets' price assessment for
ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, dropped by 200-300 yuan per tonne to 7,600-8,000 yuan ($1,170-1,231) per tonne on Tuesday, from 7,900-8,200 yuan per tonne the week before.
The assessment has...