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China's domestic price of high-carbon ferrochrome (FeCr) showed signs of weakening after four consecutive weeks of inclines recently, as the overall market sentiment has been dampened by possible higher production from some smelters on the easing in curbing and Tsingshan Holding Group's latest announcement to roll over FeCr procurement price, Mysteel noted from the latest weekly survey on the market.
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China’s price of ferromolybdenum (FeMo) assessed by Mysteel climbed for the second week over October 11-15, propelled upwards by the smelters’ determination to defend their prices because of high production costs, market sources said.
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China’s market for ferromolybdenum (FeMo) is showing signs of recovery following the country’s National Day holiday over October 1-7, with prices being pushed upwards by rising prices of moly oxide in the global market and the domestic smelters’ higher production costs.
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The lingering electricity shortages and energy-related production curbs in many regions of China continued to restrain the operations of some ferrochrome (FeCr) smelters last week, Mysteel's latest survey has found, causing domestic spot FeCr prices to strengthen further.
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China’s prices of ferromolybdenum (FeMo) declined for a fourth week over September 22-26 but at a faster pace than previously, according to Mysteel’s assessment. Market sources attributed the price slump to ongoing efforts by domestic stainless steelmakers to cut their bidding prices while clamps remain on their steel output.
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As of September 22, the continuing power rationing among power-intensive enterprises including ferroalloy smelters in some regions of China had been restraining the operations of some ferrochrome (FeCr) producers, which, as a result, further propped up domestic spot FeCr price by Yuan 100/tonne ($15.5/t), according to Mysteel’s latest survey.
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Over September 13-17, China’s price of ferromolybdenum (FeMo) under Mysteel’s assessment stayed on the downtrend for the third week, or down another Yuan 2,000/tonne ($309.4/t) on week, as demand from the domestic end-users with stainless steel producers in particular subsided amid the wide-range steel output cuts, market sources remarked.
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Over September 7-14, China’s price of high-carbon ferrochrome (FeCr) showed signs of recovering from six consecutive weeks of declines mainly due to constraints in output because of intensified power rationing in many regions of the country, market sources shared.
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The price of ferromolybdenum (FeMo) in China under Mysteel’s survey headed south for the second week over September 6-10, mainly was the result of domestic steelmakers’ growing disinterest in buying because of the steel production curbs they’re under, according to market sources.
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China’s prices for high-carbon ferrochrome (FeCr) continued to soften over August 31-September 7. Industry watchers remarked that the overall market sentiment weakened last week, with Chinese mills’ demand being lukewarm.
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Chinese prices of ferromolybdenum (FeMo) began to decrease over August 30-September 3, mainly reflecting reduced buying by domestic steel mills and traders’ bearish sentiment, according to market sources.
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China’s high-carbon ferrochrome (FeCr) price showed signs of weakening over August 26-31, mainly due to the lower prices that stainless giant Tsingshan Holding Group had bid for September supplies, Mysteel Global has learned.
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The price of ferromolybdenum (FeMo) in China assessed by Mysteel continued to firm over the past week, mainly prompted by smelters’ high production costs. However, the prices of both FeMo and moly concentrates showed signs of weakening late last week when market sentiment began wavering, market sources said.
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As of August 24, the spot price of FeCr with 55% Cr content in North China’s Inner Mongolia under Mysteel’s assessment decreased for the fourth week, down another Yuan 100/tonne ($15.5/t) on week to Yuan 10,400/t EXW and including 13% VAT, mainly due to the slowdown in procurement among the domestic stainless steel mills.
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Domestic prices of ferromolybdenum (FeMo) in China under Mysteel’s survey still hovered high over the week of August 16-20, mainly kept aloft by the sound demand from steel mills and the higher production costs FeMo smelters are facing with the climb in raw materials prices, sources said.
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The market for South Africa-origin 40-42% grade chrome concentrates in China dipped last week, undermined by reduced buying among the domestic smelters and rising port stocks, with the price nudging down to Yuan 32.5/dmtu ($5/dmtu) as of August 17 for an on-week dip of Yuan 1/dmtu, Mysteel’s data shows.
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The domestic price of ferromolybdenum (FeMo) in China has continued to post on-week gains since late July and climbed further over August 9-13, Mysteel’s latest survey showed. The surging prices mainly reflected the firm demand of domestic steelmakers, the historically high prices of moly concentrates and the stronger moly oxide prices in the global market, according to market sources.
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Indian chrome ore dispatches decreased by 19% m-o-m to 271,621 tonnes (t) in Jul’21. Despite this, production of ferro chrome suffered significantly in the past two months, due to shutdowns and shifting by smelters to production of other ferro alloys.
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After the continuing strengthening since mid-May, China’s domestic ferrochrome (FeCr) headed south in the second week of August, as recent declines in stainless steel prices has prompted stainless producers to reduce production costs by cutting down on their raw material procurement prices, market watchers commented Thursday.
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Domestic ferromolybdenum (FeMo) prices in China under Mysteel’s assessment climbed further over August 2-6, many thanks to firm buying among domestic steel mills while the tightness in FeMo and moly concentrates supplies continued, according to market sources.
