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[Ferro-Alloys.com]Tsingshan Group cut its new tender price of high-carbon ferrochrome in January 2016 again, reflecting a great decline of 7.7%. Following the sharp fall of nearly 10% in December 2015, the price hit the "circuit breaker" for another time. These two months see a total decline of RMB1,000/T 50% Cr basis, down by 16.7%, which increases the pressure on the ferrochrome production. The new tender price shocks the market again. Some producers say they can not accept the price decline when other ferroalloys see rebounds and some say they are ready to shut down their plants. China's ferrochrome industry is currently suffering unprecedented pressure.
True, the great decline of the price would put the ferrochrome industry in jeopardy, while the product costs are declining at the same time. China's electricity prices are declining by 3 fen nationwide, which would lower the production costs. And the prices of chrome ores, the major raw material in the production of ferrochrome, are declining sharply too in recent months, especially for the South African origin chrome ores, adding the great devaluation of the South African rand that makes it possible for a further dip of the chrome ore prices. A more severe competition is to be seen in China's ferrochrome industry after the great fall of prices, which will thrive the producers who have lower production costs in a hard way.
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- [Editor:sunzhichao]
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