Chinese stainless mills FeCr buying price no longer a relevant

One reader suggested that the Chinese stainless mills’ monthly ferrochrome buying price is useless as Glencore’s quarterly benchmark price since both don’t reflect the dynamic market conditions.

He further said that Chinese spot prices are around rmb 7,500-7,600 per mt (about rmb 150 under the July Chinese stainless mills’ initial buying price), not the rmb 7,100 price mills are currently asking for. And, that if the rmb falls, it would further support rmb prices. “Price depends on the location of stainless plants and on the commercial basis,” he opined.

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