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The high carbon ferrochromium market has remained stable in China, with prices of 8,900-9,100 yuan/ton. Although the market has been weak again recently, the overall decline space is limited. After all, the cost of raw materials is high, supporting the price. The traders wait representative steel plants'bidding guidelines.
The chrome ore market has maintained a stable operation. Although downstream pressure continues to be transmitted to raw materials, the suppliers' willingness to actively reduce prices is relatively weak, and the supply and demand sides have fallen into a stalemate.
In the futures market, there are currently many South African foreign investors who hold up prices and are not willing to concede prices. Due to the tight spot resources at the port, the available sales volume at the port in the later stage is limited, so foreign investors are more optimistic about the future market. Near the steel plants' bidding, the demand of ferrochrome manufacturers is average, and the inquiry and procurement are not very positive.