Spot FeCr price in China retreats to four-month low

The spot ferro-chrome market in China continued to weaken on Tuesday November 16 amid suppliers' efforts to destock, with prices now back to a level last seen in mid-July.

Fastmarkets' weekly assessment of ferro-chrome spot 6-8% C, basis 50% Cr, ddp China was 9,600-10,200 yuan ($1,503-1,597) per tonne on Tuesday, down by 400-700 yuan per tonne from 10,300-10,600 yuan per tonne a week earlier. The latest price range is the lowest since July 20, when it was assessed at 10,000-10,300 yuan per tonne.
The market had been supported in the past four months by tight availability caused by electricity shortages in China's main producing regions. But weakness started to emerge in mid-October with improved electricity supply in a number of areas, including the Inner Mongolia and Guangxi autonomous regions.
Amid the increased supply, sellers started to cut their offers in the spot market by varying degrees.

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