This week, the price of high carbon ferrochrome was reduced by 100 yuan/50 base tons. Affected by the rise in iron prices and futures ore prices, the price of ferrochrome has a downward trend. At present, high carbon ferrochrome (yuan/50 base tons, cash including tax ex-factory): Southwest 7550-7700; Northwest 7500-7600; Northeast 7650-7700; East China 7700-7800; Central China 7600-7700; North China 7300-7550; low silicon high chromium (1.0＜Si＜1.5): 7700-8150. The mainstream spot price of imported high chromium (yuan/50 base tons, self-pickup at the port): Zimbabwe 7600-7650; India 8050-8100; Harbin Iron 8500-8650.
Low micro carbon ferrochrome price trend
Affected by the rebound in prices of other chromium products, low-micro-carbon ferrochrome continued to fall by 100 yuan/60 base tons this week. At present, the mainstream quotation of natural block spot exchange ex-factory (yuan/60 base tons): low 25/12400-13100; micro 10/12600-13300; micro 6/12800-13600. The latest transaction price of 72 silicon chromium in the northern region is 7750-7800 yuan/ton, a weekly decline of 250-300 yuan/ton, and the decline of chromium concentrate in Zimbabwe is 2 yuan/ton, which has a certain negative impact on the low-micro-carbon ferrochrome market. Unlike the situation where high-carbon ferrochrome factories have reduced production together, most domestic low-micro-carbon ferrochrome factories maintain normal production status, and manufacturers choose to adjust their quotations according to their own cost changes to adapt to the market.
Price trend of stainless steel, a downstream product of ferrochrome
The price of stainless steel is relatively low this week. The factory said that there is a plan to stop production and maintenance in January next year, and the supply pressure may be relieved. Subsequently, affected by the decline in the prices of raw materials such as ferronickel and ferrochrome, the futures and spot prices also fell. For the 300 series, steel mills began to reduce prices at the beginning of this week, but as futures prices fell to a new low this year, downstream purchases at low prices increased, and transactions improved. For the 400 series, there is still a lot of inventory at present, and downstream demand is weak in the off-season. Downstream purchases are cautious, and transactions are low.
Feerochrome Forecast for next week
At present, the terminal market is not operating well, and the price of ore has fallen with the price of iron, and the cost support of ferrochrome has weakened. As the chromium industry chain still lacks a good trend, the price of iron is expected to continue next week, but the reduction of ferrochrome factories will relieve pressure on the supply side, and the decline and speed of iron prices are expected to slow down.
