GLOBAL CHROME WRAP: Chinese spot ferro-chrome prices weaken on aggressive producer offers

Chinese ferro-chrome producers cut their offers last week to generate cash, putting downward pressure on spot prices.

Selling pressure weighs on Chinese spot domestic ferro-chrome marketCharge chrome, chrome ore prices flat in thin tradingEuropean ferro-chrome prices tick up on tight supplyUS market widens slightly lower in lackluster tradingThe Chinese spot domestic ferro-chrome price continued lower in the week to Friday December 13 due to aggressive offers from smelters looking to destock and generate cash before the end of the year.
Fastmarkets' price assessment for ferro-chrome spot 6-8% C, basis 50% Cr, ddp China dropped to 5,800-6,100 yuan ($828-872) per tonne on Friday from 5,900-6,200 yuan per tonne in the previous week, marking a new two-and-a-half-year low.
Increasingly low offers were reported. But some smelters, especially those with small-scale operations, have struggled to lower their stock levels given the gloomy outlook for the stainless steel market.

"In the past, no matter how fast the alloy prices dropped, there were hardly...

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