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The high carbon ferrochrome market has slightly down in China, with price of 8700-8900 yuan/ton (down 100 yuan/ton). However, with weak high price transactions and a slow pace of steel plants' procurement, coupled with the tightening of the industry's funding chain at the end of the month, some factories have moderately lowered prices for shipments, resulting in a slight decrease in actual transaction prices.
The chrome ore market has maintained a stable operating trend, and the overall market volatility has gradually narrowed recently. Downstream ferrochrome prices have once again fluctuated rationally, and there is insufficient support for high priced raw materials. The mainstream long-term trading price of chrome ore concentrate 40-42% futures remains at $303/ton CIF, which is flat compared to the previous round. The price increase of chrome ore is faster than the increase of ferrochrome price. Although some ferrochrome production capacity is planned to be put into operation and resume production in the near future, ferrochrome plants have made more purchases and transactions in the early stage, and chrome ore inventory is not tight. Coupled with the current high stability of chrome ore prices, ferrochrome plants have limited acceptance of high priced chrome ore. Currently, the price increase of chrome ore has slowed down, and it is expected to stabilize at a high level.