Stainless Steel Group Co. Ltd., Chinas largest stainless
producer, has increased its December-delivery high-carbon
ferrochrome purchase price.
The price is now at 7,000 yuan
($1,123) per tonne, including delivery, for an all-cash
payment, up 150 yuan ($24) from November.
Prices from other major
stainless steel millsincluding Baosteel Group Corp. and
Jiuquan Iron & Steel (Group) Co. Ltd.have also
Baosteels prices are up
100 yuan ($16) from the previous month to 7,100 yuan ($1,140)
and Jiuquans prices are at 6,950 yuan ($1,115) per tonne,
up 100 yuan ($16) from the previous month. Both are on an
"The increase is more than
expected, especially in Taigangs case, as its payment for
November was half in cash and half in the form of an acceptance
draft. But this time its all in cash, so the real raise
should be as much as 250 yuan ($40)," a trader in Beijing told
AMM sister publication Metal Bulletin.
Spot prices stood at 7,000 to
7,100 yuan ($1,123 to $1,140) per tonne Friday, unchanged from
a week earlier.
"Market sentiment improved a lot on these high prices, and
some predict the prices will continue to go up in the coming
month on falling output of ferrochrome," an analyst from
Shanghai said, noting that monthly high-carbon ferrochrome
production from major local smelters fell to around 260,000
A version of this article was
first published by AMM sister publication Metal