July 2009 | Ferro-alloys
China still buying large volumes: Ferro-chrome highlights
Ferro-chrome contract price rises, as do electricity prices. But seeing as China is the only influential country seriously in the market for ferro-chrome at the moment, if they were to pull out this would have a significant (downward) effect on the price of ferro-chrome.
We mentioned in last month’s report that sales of ferro-chrome had increased markedly recently, with almost all of it going to China. While sales remain relatively strong, there are now a more diversified group of buyers. While China leads, enquiries from Europe, South Korea and Japan have picked up significantly this month, due partly to a recovery in demand and partly in anticipation of higher prices to come. Ferro-chrome demand in countries like Taiwan and India also remains strong as the former focuses on exporting to China and the latter looks to feed its own high domestic stainless production levels.
China’s stainless steel production increasing China’s stainless steel production has been increasing each month this year. Almost 1.6m tonnes were produced in the first quarter, a year-on-year fall of over 20%. However, it is now producing at an annualised rate of around 7.8m tonnes – the same as...
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