Following a recent surge in costs for ferro-chrome production in China and the release of disappointing January tender prices by consumers, two leading producers have initiated moves to strengthen alloy prices.
On Wednesday December 30, Xinganglian Metallurgy (XGL) issued a notice saying that it will raise its offer price in the spot market. The company, which is China's top ferro-chrome producer, produced around 978,500 tonnes of high-carbon material in 2019, according to market participants.These reasons were also cited by Mintal Group Chrome Technology in a similar announcement on December 31, in which it specified uncertainties in ferro-alloy production after China's Inner Mongolia region proposed a series of new measures...