HONG KONG Chinas
ferroalloys production will continue growing in 2013 and prices
may see a rally in the coming months, according to the chairman
of the China Ferroalloys Industry Association.
"Chinas production of
ferroalloys will continue to rise this year but due to the
slowdown in steel output, the rise will be (capped)," Liu
Weiguo, chairman of the association and general manager of
Sinosteel Corp., told delegates at AMM sister
publication Metal Bulletins 14th Asian
Ferroalloys Conference in Hong Kong March 27.
"Prices of steel and
ferroalloys, such as ferrochrome, have dropped a lot in the
past two months but the prices will not lose more in the second
quarter, and may have a rally in May or June," Liu said.
On March 26, Metal
Bulletin reported that Jiuquan Iron & Steel
(Group) Co. Ltd. has cut its April purchase price for
high-carbon ferrochrome by 450 yuan ($72) to 7,000 yuan
($1,126) per tonne.
Liu hopes the country will introduce policies to support
ferroalloys enterprises but said even if theres no
supportive policy from the government, the market will likely
improve by itself in the third quarter.
A version of this article was first published by AMM sister
publication Metal Bulletin.