Chromium series products price turn upward
After the May Day long holidays, the bidding work of steel mills continued to forward, and the overall upward trend of chromium series products also attracted inquiries from low carbon ferro chrome retail users. The market replenishment situation was relatively concentrated, most factories signed orders until the end of May, and the shipment situation was relatively smooth.
Although Sichuan has entered a flat water period, it is still limited in terms of increasing the supply of low-carbon ferrochromium due to incomplete cost construction.
Moreover, driven by the increase in the price of South African chromium powder, the prices of high-grade chromium powder such as earth powder and Zimba powder have skyrocketed, and the production costs of factories are constantly increasing. In order to avoid hanging upside down, factories have to adjust their external quotations accordingly.
However, at present, downstream transactions are mainly based on replenishment on demand. Given the uncertain demand situation in the future, the willingness of dealers and downstream warehouses is relatively average. When price turn to rise, the downstream users and traders are not react fast as expected. Its estimated that price continue to rise in next week.