Research

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

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April 2019 | Stainless Steels


Chrome prices slip as buyers choose to run down stocks: Chrome/Molybdenum Highlights


Lower requirements from some ferrochrome smelters in Inner Mongolia, where electricity constraints are set to curb smelting rates from mid-April onwards, are in part behind the pullback in demand for ore.

Ferrochrome
Having risen notably since mid-February/early March, prices on a wide range of chrome products have given up some of their gains in recent weeks. Above all this has been caused by a lack of demand from key end-users, in particular China’s stainless steel sector. Following the bidding-up of prices over the past couple of months, buyers are now choosing to run down previously built-up stocks.

The impact of this is most evident in chrome ore markets. With China’s ferrochrome smelters opting to run down stocks in recent weeks, ore suppliers from South Africa and Turkey have found themselves having to cut their prices slightly in order to achieve sales. Prices of both South African UG2 ore and Turkish lumpy ore are down by around $10/tonne since late March. They now...

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