There was no significant fluctuation in the price of high-carbon ferrochrome this week, but the overall trading performance was light. Large steel plant raw material procurement work comes to an end, stainless steel has a small range of production cuts, coupled with the casting market downturn, raw material demand weakened and the downstream price pressure psychology, resulting in chromium zero single transaction resistance, individual dealers will profit resources at low prices to cash in, but this part of the supply is scarce.
On the other hand, the amount of chromium ore to the port is low, the inventory construction is weak, the ore price remains relatively strong, the smelting cost of the factory is high, and it is difficult to yield profits. The production of some high-chromium producing areas has increased significantly, and new production capacity continues to be put into production, and social supply is expected to increase. This week, the buyer’s market wait-and-see sentiment is heating up, and the upstream and downstream chromium series are showing a dilemma.
Low carbon ferrochrome prices this week to strong stable operation, but the overall growth has slowed. The supply of high-grade chromium concentrate at the port continues to be tight, the price of silicon-chromium alloy has increased slightly, and the production cost of the factory has increased. Due to the continuous recent orders, most of the factory scheduling dates are in October and later, and the market can trade spot volume is limited, which forms a certain support for the price. Downstream transactions continue to be reflected in the demand of users, including steel mills as the main representative, some casting class and dealer users have a fear of high sentiment, the willingness to buy is not strong, low carbon ferrochrome transactions have been limited.
Iron prices are expected to continue the weak and stable tone next week, as low-cost resources cash out, the market is waiting for a new wave of purchasing demand at the end of the month, when ferro chrome prices are expected to gain support.
