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[Ferro-Alloys.com]China's stainless steel industry has run into the off season since June, and stainless steel prices stopped rising and started falling after the previous hike, which would put downtrend pressure on high-carbon ferrochrome prices. One major stainless steel mill cut its purchasing amount of high-carbon ferrochrome in June, which would have an negative affect for the ferrochrome industry, despite the fact that most stainless steel mills raised their tender prices by nearly 1,000 yuan per tonne 50% Cr basis. And some cut their production, which would make things a little worse. Stainless steel market may remain weak in July, which would put more pressure on ferrochrome, indicating that the rebound of ferrochrome prices could end. In the meantime, major stainless steel producers are holding sufficient stockpile of high-carbon ferrochrome and in no hurry to start the next purchase, which increases the risk for high-carbon ferrochrome prices.
China's high-carbon ferrochrome output surged in the context of tender price hike and the arrival of rainy season in Southern China. Tight supply has been eased due to the output increase, even though the producers' stockpile remained low. Adding that the ferrochrome import rose to 0.218 million tonnes from 0.164 million tonnes in April, indicating that foundation for the prices hike is not so firm anymore. China's high-carbon ferrochrome prices slipped in late June, which means that the tender prices might dip as well. On the other hand, South African chrome ore dipped, which increased the downtrend risk, despite prices for other chrome ore prices remained stable. Low- and micro-carbon ferrochrome prices fell due to the increasing output, and the prices are supposed to remain weak in the following month.
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- [Editor:sunzhichao]
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