FOCUS: Five factors driving the chromium metal rebound

After being badly hit by Covid-19, chromium metal prices have started to rebound on transport disruptions and high production costs, adding to a more positive outlook for 2021.

Fastmarkets' price assessment for chromium alumino-thermic 99% min, in-whs Rotterdam, was at $5,700-6,050 per tonne on Friday November 27, up by $200 per tonne (3.5%) from $5,500-5,850 per tonne a week earlier and rising for a second consecutive week.
These are the first consecutive price increases after broad downtrend that started on April 10, when prices stood at $6,400-6,800 per tonne.
"Here and now there are a number of factors that point to some change in direction in the market," a chromium metal producer source said.
One of them is related to the high transportation costs that have come about as a consequence of container shortages, impacting both rail and ocean freight rates.

A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kick started a rapid increase in shipping costs...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps