After slightly declined in last week, the import ferrochrome price of South Africa and Indian turned stable

According to the statistics of Macquarie, in 2013, stainless steel (SS) production was 38.6million tons, rising by 7.8% year on year

Philippe Richard said, affected by the rising demand of the stainless steel, in 2014, China’s FeCr output would continue to go up while the growth rate would slow down.

This week the high carbon ferrochrome price decreased by RMBXX/mt to RMBxx/mt (ex-works price with tax). The surplus supply and the weak demand made the FeCr market hard to be changed in short term.

According to the latest tender price of the major steel mills, the prices were further cut down by RMB50-100/mt. What’s worse, many of them reduced the purchasing volume or even stopped the purchasing of May.

China's Jiuquan Iron & Steel has cut its high carbon ferrochrome purchase price by Yuan 100/mt ($16/mt) on the month to Yuan 6,500/mt (80 cents/lb),

Baosteel, one major steel mill in China, once again cut down the benchmark price of high carbon FeCr in May.

Due to the weak demand of the stainless steel and foundry market, the low carbon ferrochrome trade was not well.