The global ferrochrome market has entered a traditionally quiet period of the year as of writing, in particular on the spot market where demand from China is likely to have slowed heading into the Chinese New Year holidays during February 18-24. Certainly price movements indicate a market slowdown. Chinese spot prices of charge ferrochrome are at an average of 79C/lb this month for instance, down byic/lb since our assessment last month, although this figure is based on a lower number of transactions. We also note that China's stainless steel mills, such as Baosteel, JISCO, and TISCO, have once again rolled over their tender offers for ferrochrome supplies. In addition to this month's rollover, we understand that those stainless mills located awayfrom the bulk of the country's ferrochrome smelters in the north will be tending atthe same price for March deliveries as well, in orderto secure supplies around the holiday period. Thus the first quarter of the year is likely to be one of little volatility on the main spot market forferrochrome.
展开▼
