Ferro Chrome Price In 2023 & Ferrochrome Price Outlook In 2024

In 2023 the steel production in China kept weak. Steel prices are depressed while cost prices remain high, resulting in industry losses. The price of chromium ore has remained at a high level for a long time, the cost of high-carbon ferrochrome remains high, and the profits of high-carbon ferrochrome manufacturers have shrunk. This article introduces the Chinese market analysis of high, medium and low carbon ferrochrome in 2023.

Ferro Chrome Price 2023

High Carbon Ferro Chrome Prices In 2023

In 2023, the price of high-carbon ferrochrome will be in the range of 8,350-9,300 yuan/50 basis tons, with an average annual price of 8,796 yuan/50 basis tons, an increase of 207 yuan/50 basis tons compared with last year.

high carbon ferro chrome prices 2023

First quarter: Due to rising costs, the price of high-carbon ferrochrome rose steadily and reached the highest point of the year at 9,300 yuan/50 basis tons. However, with poor downstream demand, ferrochrome prices began to fall.

Second quarter: Ferrochromium prices fluctuated greatly. First, the surge in imported ferrochromium caused a correction in iron prices. Then, the increase in production suspensions promoted a positive adjustment in supply and demand. Finally, driven by rising costs, ferrochromium prices rose significantly.

Third quarter: The stainless steel market has improved, and steel mills have increased production, driving up ferrochrome prices.

Fourth quarter: Ferrochromium production increased, but consumption decreased. Due to factors such as production cuts at the end of the year, power rationing, and supply decline, ferrochromium prices increased slightly.

Low Carbon Ferro Chrome Prices In 2023

The price of low carbon ferro chrome was stable in 2023. The price was on the range of 13900-15500.

The first quarter: The increase of the raw materials drove the price of low carbon ferro chrome high. The export volume of low carbon ferro chrome increased.

The second quarter: The prices of low carbon ferro chrome After April, factory costs began to invert, and iron prices turned from falling to stable development. In May, the market regained cost support, and iron prices began to move upward. In June, due to a series of operations such as steel mills reducing production and destocking, low-carbon ferrochrome began to come under pressure again. Downward.

Third quarter: Price increases basically lasted throughout the entire quarter. On the one hand, costs forced iron prices to rise. On the other hand, the steel market gradually improved, and downstream demand followed suit, which jointly pushed iron prices back to high levels.

Fourth quarter: Iron prices “break first and then rise”. The inability to continue to follow up on demand and the correction in costs caused a “double kill” to the market. In October, low-carbon ferrochromium dropped by more than 1,000 yuan, and the price bottomed and concentrated downstream. Entering the market to purchase will have an upward effect on prices.

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