EU chrome alloy segment affected by stainless steel market uncertainty

摘要

Chrome alloy quotes mostly stabilized in Europe, which is in line with Metal Expert's previous forecast. As before, HC FeCr is available at $1.24-1.34/lb Cr DDP. LC FeCr is being quoted within $2.25-2.35/lb Cr DDP. - Higher supply of Cr alloys in China will push quotes further down, with negative consequences for prices in the EU as well. Although average July price for Cr alloys is 1 above the June number, quotes have lost as much as 6 since the start of the month. According to Metal Expert's data, China's FeCr output plunged to a local low at 318,800 t in June, which is still 16 above last year's level, though. China is expected to reach a level of 440,000-480,000 t of HC FeCr during July-August, having capacity utilization ramped up in key provinces after environmental inspections. Still too high Cr ore inventories in Chinese ports will also weigh on Cr alloy prices.