August 2012 | Steel Raw Materials
China's spot price continues to fall after benchmark ferro-chrome negotiations: Ferro-alloy Highlights
The prospect of continued deflationary pressure in China is forcing buyers to remain on the sidelines.
After third quarter benchmark ferro-chrome price was negotiated lower in early July, Chinese spot ferro-chrome prices have continued to fall, reaching new 2012 lows. On Friday August 10, the material traded at Rmb7,500-7,600/tonne ($1,185-1,201/tonne), down Rmb50/tonne from the week earlier. Buying activity was weak and, with recent inflation data showing that prices grew just 1.8% year-on-year in July, purchasers are expecting prices to fall further. The prospect of continued deflationary pressure is forcing...
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