[ferro-chrome.com] Chinese domestic spot prices ofhigh carbon ferrochrome (50% basis Cr) were unchanged week-on-week at Yuan 6,850-7,000/mt (84.5-86 cents/lb) in quiet trading prior to announcements of October purchase prices from major stainless steelmakers and mid-autumn festival holidays in China Thursday to Saturday.

"We didn't get many inquiries this week. Those who needed materials had already finished buying last week," said a Tianjin-based trader. "The market is also waiting for bid prices from the major mills."

Market participants expect major steelmakers like Shanxi Taigang Stainless Steel and Baosteel to set their purchase prices for October deliveries after the mid-autumn festival holidays.

Sources said they expect the mills to roll over their prices from September. "Based on just demand and supply, bid prices should actually decline but there is support from chrome ore prices and higher offers for imported ferrochrome," said a Beijing-based analyst.

Ferrochrome demand in the country is stable but ferrochrome smelters are producing at full capacity, she noted.

Taigang, Baosteel and Jiuquan Iron & Steel had set their September purchase prices at Yuan 6,700/mt, Yuan 6,900/mt and Yuan 6,750/mt respectively.

Chinese domestic ferrochrome spot prices had remained steady at Yuan 6,850-7,000/mt since late-July.

The stainless steel industry is the largest user of ferrochrome.