More downslide for Chinese ferro chrome import prices

March 31, 2009: China's ferro chrome import prices have fallen another cent per pound in the week beginning on March 23.

High carbon Indian ferro chrome (6 to 8 percent C, 58 to 60 percent Cr) for one-month delivery stood at 57 to 60 US cents per pound cif China last week, from 58 to 61 cents per pound cif China a week earlier.

It is still not certain whether there will be a further decrease or not, according to an SBB report. Ferro chrome cargo has already arrived at Chinese ports and more is expected in April. This may lower prices again, though sellers seem unwilling to reduce them further at present as they wait for some stability.

"Domestic buyers are hoping for prices to drop further but sellers are unwilling to do so. If sellers hold out, prices may hold stable," noted a Shanghai-based trader.

Source: Steel Insights Bureau