Ferro chrome maintain stable in June
This week, the overall operation of low carbon ferro chrome remained stable, without wide price changes. The transactions during this week were mainly reflected in the regular procurement of steel mills, while other transactions were relatively light. At the beginning of this week, due to significantly higher than expected chromium import data and a downward correction in steel mill production, the market's hesitant atmosphere heated up.
Subsequently, the symbolic stainless steel factories in the north and south successively announced the purchase price of low carbon ferro chrome in June. The month on month increase of 200 CNY/50 base tons was much lower than the previous increase in the retail market. Sellers and traders sentiment in market fluctuated, the pace of transactions slowed down, dealers with stock cargo were actively quoted to the market, and individuals high quotations were loose.
Downstream steel mills generally offer low prices. It is expected that the transaction of low carbon ferro chrome next week will mainly rely on the promotion of demand. Due to the influence of guiding prices, some suppliers are more proactive in quoting or making certain concession, and there is a possibility of slight loosening of prices under pressure.