Steel mill purchase price has been introduced in succession, but ferrochromium market is still thin.

   Influenced by Greek crisis, London nickel price significantly dropped since early May. Stainless steel market goes weak, and ferrochromium price keeps dropping, with low demand and few transactions. At present, high-carbon ferrochromium market mainstream price has fallen to 9100-9500yuan/mt from 9600-10200yuan/mt, while low-carbon ferrochromium mainstream price has fallen to 14300-14700yuan/ton from 14600-15200yuan/ton.

   About ferrochromium trend in future, most participants are not so optimistic. On one hand, stainless steel market is still weak, and its downstream purchase intent is reduced. On the other hand, international ferrochromium market price, which was favorable factor, are not as firm as before because of Europe debt crisis. It’s learned that Indian ferrochromium price has dropped to 105-115USD/pound, which was 110-115USD/pound a week ago. Besides, domestic microeconomic policy pressure became higher and higher, such as energy conservation and emission reduction, general cancellation of preferential tariff, et. Because of so many unfavorable factors, market participants confidence was significantly reduced, and most of them are waiting and seeing to avoid risks.