The main reasons why the price of South African chromite sand can continue to rise？
1. The price of stainless steel continues to soar, igniting the price increase sentiment of ferrochrome factories. Recently, the retail price of high-carbon ferrochrome has increased by 400-500 yuan/50 basis tons. The mainstream quotation of iron factories is 7900-8000 yuan/50 basis tons. While iron prices rise, the operation of in-production factories is stable, and the demand for chromium ore supports the upstream chromium ore price to a certain extent.
2. In the chrome ore external market, futures suppliers still intend to raise prices, and the transaction price has also increased significantly compared with the previous period. Therefore, the chrome ore spot market has been boosted, and spot merchants have also strengthened their prices. Under the support of downstream production, they are forcing factories Inquiry, purchase price increase.
3. Although the spot inventory of chrome ore at the port is not low, it is not difficult to find out that in addition to the factory’s own stock, the remaining tradable goods are not large, and the supply of goods is very concentrated. It is not very easy to make a large number of inquiries. The attitude of merchants to support prices is prominent, so chrome ore merchants continue to tentatively raise the price of South African chrome ore.
The retail price of downstream ferrochrome remains firm, and the cost of futures is high. Most of the spot merchants with first-hand sources of goods offer firm quotations, and their willingness to ship in the short term is not strong, which gives the spot price of chrome ore a strong upward trend.
