keywords :
China's ferrochrome imports fell to their lowest level in nearly seven months in April amid price cuts from domestic stainless steel mills, with the downward trend expected to continue as the monsoon season sets in.
High-carbon ferrochrome imports totaled 111,124 tonnes during the month, down 29.3 percent from the previous month and 3.9 percent lower than April 2012 levels, according to the latest Chinese customs figures.
"It was expected ... as you know the price gap between the Chinese and overseas market is too big to be accepted by any parties," an importer in Shanghai told.
The importer expects this downward trend to continue in May. The monsoon season, which brings cheap power supply to the country’s southern provinces, begins this month.
Chinese prices decoupled from the international market in March, when major stainless steel producers began slashing ferrochrome purchase prices.
Imports of chrome ores and concentrates, however, remained high on the back of solid production levels at local smelters—at 1.3 million tonnes in April, up 35.6 percent month on month and 73.4 percent higher year on year.
South Africa retained its spot as the top exporter of ferrochrome to China, supplying 64,883 tonnes in April, down 12.1 percent month on month and 20.7 percent lower year on year. The nation also was the biggest seller of chrome ore to China, providing 795,233 tonnes in April, up 60 percent and 146.8 percent in the same comparisons.
Kazakhstan was the second-largest exporter of ferrochrome, selling 27,685 tonnes of ferrochrome during the month, down 39.8 percent from March and 46.8 percent higher than April 2012 levels.
Turkey was the second-largest exporter of chrome ore, at 178,711 tonnes, down 15.3 percent from March but 61.9 percent higher year on year.
(Source from http://www.metalbulletin.com)