Ferrochrome

摘要

Chinese buying of ferrochrome has come to a near complete stop, causing a steep fall in spot import prices. The weakness in the Chinese market has in turn forced spot markets down in Europe, Japan and elsewhere. Chinese prices have fallen because of a combination of factors. First, there are high stocks within the country of stainless steel, which has in turn led to reduced rates of utilisation at Chinese steel mills. Second, there reportedly exist high stocks of ferrochrome itself, which discourage domestic production of the material and, even more so, imports.