Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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June 2018 | Stainless Steels


South African chrome prices rise sharply: Chrome/Molybdenum Highlights


We highlighted last month the increase in oil prices that had been seen through early 2018 as a key component behind rising cost pressures in the chrome industry.

Ferrochrome
The pick-up in chrome markets that began last month has continued over the past few weeks, driven by higher production costs, an environmental clampdown in some parts of China and a pick-up in China’s stainless steel market. With ferrochrome contract prices for Q3 being negotiated and settled in recent weeks, the timing has been fortuitous for chrome suppliers. Previous forecasts of a significant reduction in contract prices were already being scaled back regardless. There was even some talk of a rollover in prices from Q2 levels being heard among market participants but in the end a small reduction has been agreed, with Q3 contract prices coming in at $1.38/lb.

We highlighted last month the increase in oil prices that had been seen through early 2018 as a key component behind rising cost...

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