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Japan’s ferrochrome prices surge to 13-year high due to China’s supply restrictions

7 Oct 2021 16:24 reported by Joy Liu

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Due to China's electricity curtailment, which tightened the production and supply, the purchase price of ferrochrome, a raw material for stainless steel making in Japan, hit a 13-year high.

Nippon Steel Stainless Steel and a resource company with a base in South Africa have reached an agreement to raise the ferrochrome price by around 15% per pound for the fourth quarter from the July-September quarter, which hit a new high since October-December 2008.

According to market participants, the increase in purchase prices of ferrochrome is likely to drive stainless steel prices.

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