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At the beginning of Feb, the high carbon ferrochrome market maintained a stable trend, with prices ranging from 8550 to 8750 yuan/ton. The overall stable situation is difficult to break, and the market mentality and sentiment are calm. As the Spring Festival holiday approaches in China, some enterprises have also started to take holidays, and the market will show a stable development trend.
The market for medium and low carbon ferrochrome is expected to remain strong, with recent significant price increases for medium carbon ferrochrome and stable prices for low and micro carbon ferrochrome. In February, the bidding prices of representative steel mills continued to rise slightly, providing significant support for the market.
The chrome ore market has maintained a stable operating situation. However, some types of South Africa's chrome ore futures prices are continuing to rise, reaching an additional $5/ton increase compared to before, providing significant support to the port spot market. Miners tend to have a strong attitude towards the future market. The price of South Africa's chrome concentrate 40-42% is u to 285-295 US/mt CIF.