Low carbon Ferrochrom price goes rising.
The price increase of low carbon ferrochrome is gradually recognized by the downstream
The retail price of low-carbon ferrochrome has risen by 600-700 yuan/60 basis tons in just a few days after returning from the festival, and this round of increase has gradually been recognized by downstream users. At present, the mainstream price in the market (yuan/60 basis ton, ex-factory cash including tax) is 25/15300-15800 lower; micro 10/15500-16000; micro 6/15900-16400; micro 3/18300-18500.
In terms of cost, the transaction price of 46-48% chrome concentrate in Turkey is 65 yuan/ton degree; the transaction price of 50-52% chrome concentrate in Zimbabwe is 62 yuan/ton degree, which is 5-6 yuan/ton degree higher than before the festival. The transaction price of silicon-chromium alloy is 11,000-11,200 yuan/ton, which is 600-700 yuan/ton higher than that before the festival. These two items alone will increase the cost of low-carbon ferrochrome smelting by 800-900 yuan/60 basis tons, so factories will continue to increase their quotations according to cost changes after the festival.
From the perspective of demand, due to the fact that end users in the retail market generally closed their businesses earlier before the festival, the raw material inventory was not fully prepared, the economy and market expectations after the festival will develop well, the resumption of work and production will speed up, and the downstream demand will be released steadily. The bidding price is relatively ideal, pushing the retail price of low-carbon ferrochrome closer to the higher bidding level.
by Cici in Winfred International Metal Limited
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