China: Increased demand and rising domestic prices of ferrochrome

With the improvement of demand, the Chinese ferrochrome market is showing a positive trend. The price of high carbon ferrochrome has increased by 300 yuan/ton (42 US dollars/ton) to 8850-9050 yuan/ton.
Meanwhile, the price of medium carbon has increased by 100 yuan/ton (14 US dollars/ton), reaching 14200-14300 yuan/ton. All prices include taxes and factory prices.
Hainan West Asia Group summarized the factors driving the ferrochrome market:
1.Increased demand: Due to increased demand and market optimism, prices have risen.
2.The stability of the chromium ore market: The chromium ore market seems to be consistent, with improved trading atmosphere and average trading performance.
3.Chromium ore traders maintain strong quotations: The total inventory of chromium ore at the port is high, indicating relatively loose supply. However, chromium ore traders have shown a strong price support mentality and are not inclined to lower prices.
4.Positive stainless steel market: The downstream stainless steel market remains strong, and the trading atmosphere has improved.

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