While the “popular” narrative is that the ferrochrome price will start to rise, many signs point to the opposite direction. In Europe, a major stainless mill purchased 2,500 mt of charge chrome at $1.04 per lb, delivered, while in China South African charge chrome was sold at 81¢, c.i.f.
One analyst predicted that the Chinese stainless mills will lower their January buying price to around rmb6,500 from around rmb7,100 in December, which was a drop of rmb800 from November’s price. The Chinese mills, according to the analyst, wants to check market sentiment. Also, there are abundant supplies of ferrochrome in China while consumption is falling