Chrome markets may slide into stagnation

摘要

While chrome alloy suppliers from Western countries managed to avoid price cuts on a seasonal trading slowdown, Asian markets were dominated by a rapid downtrend that started in China. By mid-August, Chinese FeCr quotes dipped by 6 from July levels in the yuan and by 8 in the US dollar. Prices for imported FeCr in China lost about 9. Indian FeCr slid by 9 and quotes in Japan by 8. Meantime, HC FeCr quotes merely inched down by $0.02/lb Cr in Europe and flattened out in the US. The price collapse in China along with devaluating national currencies of Turkey and South Africa forced suppliers in these countries to slash prices for Cr ore by $22/t and $25/t respectively, with Turkish price decline accelerating to $35/t by mid-August.