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At the beginning of the week, there was still no significant fluctuation in the high carbon ferrochrome market in China. Currently, it is priced at 8900-9100 yuan/ton in China. Due to the stalemate and game between the upstream and downstream of the industrial chain, the overall market volatility has gradually narrowed recently. The bidding prices of steel mills have also shown slight fluctuations. Traders are mainly cautious in their procurement operations, and retail inquiries and transaction performance are still relatively flat. The development of a new round of steel bidding at the end of the month is yet to be observed.
The chrome ore market remained stable this week, with no obvious signs of fluctuations in the overall market. The recent trend has been relatively calm, and attention should be paid to the development of downstream steel plants' bidding at the end of the month.
The bidding price for high carbon ferrochrome at Shanxi Taiyuan Iron and Steel Group (TISCO) in July 2024 was announced, with a current price of 8,795 yuan/ton including tax, which remained unchanged compared to June. The bidding procurement quantity is constant, and the delivery date is required to be before August 5, 2024.