Chinese low carbon prices spike on raw material shortages

Chinese low-carbon ferrochrome prices suddenly exploded today. Prices for 01.0% C, basis 60% Cr, jumped over rmb1,000 to over rmb15,000 per mt. Suppliers attributed the sudden increase to higher priced silicochrome. “The smelters converted their furnaces to ferrosilicon to take advantage of the higher prices and reduced our feed,” one buyer pointed out. How long the tightness will persist is open to debate.

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