Higher Chinese FeCr price, not demand for environmental shutdowns

The ferrochrome market was excited about a recent Chinese stainless mill’s purchase of 2,000 mt of ferrochrome at rmb 7,850 per mt (92.8¢ per lb), up from rmb 7,300 mt (86.3¢) last week. The spurt in the price was not due to any increased demand or even higher chrome ore prices but the Chinese government’s environmental inspection shutdowns restricting sales and production. “It’s a domestic problem that isn’t long-term,” one buyer said.

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