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|Price of HC FeCr in China Continues Showing Rising Trend|
|= Price bottomed out on June 12, rebounded like crazy and rose by nearly 20% for about 2 weeks =|
The price of high-carbon ferro-chrome in the Chinese domestic market continued declining gradually until early June from May, but rebounded all of a sudden on June 13 and the price in the main consuming area as of June 28 is up by around CNY1,500 per ton from the bottom price. On the one hand, the price increase in the producing area remains at a little over CNY1,000, but the total Chinese domestic market is in a state of a strong sense of an anticipation of a price hike (Hereinafter, the price is per ton).|
The specific price transition in Hebei is CNY6,920 at the end of May, CNY6,240 on June 7, CNY6,050 on June 12, CNY6,370 on June 14, CNY6,860 on June 21 and CNY7,540 on June 28. The price touched the bottom and rebounded on June 12 and showed a rising trend while repeating the movement to go up every day by CNY100 - CNY200.
Such reasons why the price of high-carbon ferro-chrome spiked in the Chinese domestic market are provided as (1) Many of the producers cut back on production or suspended operation because of slumping prices until early June, (2) June purchase price offered by major stainless mills in early June was down from the prior month and the producers showed reluctance to sell at a low price, (3) The market inventory becomes short due to decreased supply, (4) Stainless steel mills will start to move for July purchase shortly and the purchase price is anticipated to be drastically down and (5) Traders and producers hesitate to sell in expectation of a further price hike.
As mentioned above, the price increase range in the main producing area is smaller than that in the consuming area, and the price in Inner Mongolia was CNY6,440 on June 12, but is CNY7,420 as of June 28 with the price increase remaining at CNY980.
|last modified : Wed 05 Jul, 2017 [10:07]|