Ferrochrome Weekly Review (10.23.-10.27)

Ferrochrome Weekly Review : lack of price guidance, market sentiment is deserted

The price of high carbon ferrochromium failed to continue the upward trend this week, and the mainstream price remained stable. At the beginning of the week, Fengzhen area entered into silent management, and the transportation of raw materials and ferrochrome was blocked. In addition, the exchange rate of the US dollar strengthened, and the import cost of ferrochrome increased. Port ore prices are firm, freight rates have risen sharply, factory production continues to be under pressure, and external quotations are generally firm. At the same time, the industry also has high expectations for the new round of bidding prices. However, in the second half of this week, due to the delay in the procurement and pricing of large steel mills, the release of retail market demand is limited, and there is a small flexibility in the high quotations of dealers and individual factories. The atmosphere tends to be cooler.

Forecast for next week

The price of stainless steel futures fell sharply on Friday, and some industry insiders have compressed their expectations for a new round of purchases of high-carbon ferrochromium, and generally believe that it is difficult to reach the current retail price level. However, the shortage of raw materials in most steel mills has not eased, and the delivery and cost of ferrochromium are still difficult. It is expected that the market will maintain a high level of consolidation before the bidding and pricing of high-carbon ferrochromium is finalized. It is not ruled out that individual dealers will increase the price space, but the overall price of the factory will remain high. keep it steady.