WEEKLY: China FeCr price stabilizes, sales slower
Sep 17, 2020 13:40
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The spot price of the high-carbon ferrochrome (FeCr) in North China’s Inner Mongolia stayed unchanged at Yuan 5,800/tonne ($853/t) including 13% VAT as of September 16 after three weeks of rises, as both the traders and stainless plants slowed down their paces of buying from the prior weeks, according to Mysteel’s latest weekly report.
However,“the slowdown in domestic FeCr sales will not lastlong,as the Chinese stainless plants have been running at almost their full capacities, and they will need to replenishFeCr sooneror later,”commented a Shanghai-based market insider.
In September, China’s 32 stainless plants under Mysteel’s tracking target to produce 2.77 million tonnesof crude stainless, about