WEEKLY: China's FeCr prices drop on weak fundamentals

Chinese prices of high-carbon ferrochrome (FeCr) under Mysteel's survey showed signs of weakening recently, with the spot price of FeCr with 55% Cr content in North China's Inner Mongolia as of August 17 edging down by Yuan 1,100/tonne ($162/t) on month to Yuan 7,600/t EXW and including the 13% VAT, mainly due to weak demand.

"These days, pessimism continues to persist in the domestic stainless steel market, as poor stainless during the traditional summer slowdown has softened stainless prices further and dampened most mills' enthusiasm for producing," a Shanghai-based market watcher told Mysteel Global. "That's cooled their buying interest for FeCr products accordingly." For example,