Chinese ferrochrome market: Despite declining demand, ferrochrome prices remain stable

According to a survey by Hainan West Asia Group, although the demand for ferrochrome in the domestic market in China has decreased, the price of ferrochrome is currently stable. The factors driving the consistency of Chinese ferrochrome prices include:

1. Higher operating costs: The ferrochrome market reflects consistency, with average trading atmosphere and performance. Although there have been fewer inquiries from downstream ferrochrome markets, factories are unwilling to offer price discounts due to the high operating costs of raw materials.

2. Stable chrome ore prices: The recent performance of the chrome ore market has been stable, with average trading atmosphere and performance. The chromium ore futures market has seen a large amount of trading, especially with a focus on South African resources, leading to price increases.

However, despite this positive trend, the bidding prices for downstream ferrochrome remain unchanged, and ferrochrome factories cannot accept high priced raw materials, resulting in temporary stability of chrome ore prices.

3. The downstream stainless steel market has performed consistently, with a moderate trading atmosphere.