China: Oversupply of stainless steel to maintain stable prices of ferrochrome

The price of Chinese high carbon ferrochrome (Cr: 50%) remains unchanged compared to last week, and the market atmosphere continues.
The ferrochrome market has performed well because steel mills are willing to pay more fees. However, despite the mediocre performance of high carbon iron chromium steel, prices have remained stable.
In addition, chromium ore has been running steadily this week. The amount of ore in the port has decreased compared to before. This keeps the price of chromium ore stable.
In addition, the stainless steel market also looks bleak. The price is falling, and not many traders are buying too much. This is because there are many stainless steel options available, leading to weak market liquidity.
Hainan West Asia Group predicts that the dry season in Sichuan, China has begun, which means that electricity costs have increased and some factories have reduced production. Overall, it is expected that the ferrochrome market will remain stable in the near future.

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