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|Price of HC FeCr in China Continues Tapering down|
|= Price in main production area is CNY300 cheaper than prior month =|
The price of high-carbon ferro-chrome in the Chinese domestic market began to drop in July, and continues tapering down in early August as well. |
The current price of Inner Mongolian product (Cr: 55%) is CNY7,250 - CNY7,350 per ton, down by CNY300 from the end of last month, and the price continues to drop slightly.
The purchase price for August delivery multiple major Chinese stainless steel mills offered at the end of last week was around CNY800 cheaper than the prior month, and thereafter small and medium-sized stainless steel mills also offered a lowered purchase price, which results in supporting the downward trend in the market.
On the one hand, the retail price of imported chrome ore remains almost unchanged from the middle of July, and has yet to show a big change. China's import of chrome ore is reported to be 1.55 million tons in March 2018, 1.29 million tons in April, 1.23 million tons in May and 1.03 million tons in June, and shows a downward trend. The cumulative total in the period from January to June is 7.52 million tons, up by 14% from 6.6 million tons in the year-earlier period.
China's production volume of stainless crude steel in the period from January to June which was released at the end of July was 12.0457 million tons, up by 13% from 13.6396 million tons in the year-earlier period. The rates of increases in the production volume of stainless steel and the import volume of chrome ore can be said to be roughly balanced out, but the port stocks within China show an increasing trend, and marked a new all-time high of 3.35 million tons as of the end of July.
|last modified : Wed 22 Aug, 2018 [10:18]|