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|Price of HC FeCr in China Keeps Rising Momentum|
|= Major stainless steel mill starts procurement for April delivery =|
The price of high-carbon ferro-chrome in the Chinese domestic market has strengthened its rising momentum since entering the latter half of March.|
The price of high-carbon ferro-chrome in the Chinese domestic market as of March 15 was CNY6,950 to CNY7,050 per ton, up by CNY100 from the end of February, but rose to CNY7,050 to CNY7,150 on March 19 and to CNY7,300 to CNY7,500 (up by CNY400 ditto) on March 22 while strengthening the price rising momentum.
The market participants provide such reasons for a price hike as (1) Production in the main production area in Inner Mongolia is forecast to come down during April to May due to power shortage, (2) Price of UG2 in China goes up, (3) Price of semicoke continues to go up, (4) Consumption in China is anticipated to make a recovery from April onward, (5) Purchase price for April delivery submitted by major Chinese stainless steel mill was up by 4% to 6% from March delivery, (6) Benchmark price of South African charge chrome meant for Europe was up by Cents 8 from the prior period (per 1% of Cr per lb) and (7) Power condition in South Africa got worse due to damages by cyclone in Mozambique.
The price of high-carbon ferro-chrome produced in China is still in a state of a strong sense of further rise in spite of adding the value added tax supposed to be reduced from April 1.
|last modified : Mon 01 Apr, 2019 [11:30]|