Demand for ferronickel and ferrochrome remains strong in May
Demand for ferronickel and ferrochrome remains strong in May

14 May 2024 – Prices for Asian ferronickel and ferrochrome remained strong and stable in May. The ongoing nickel ore shortage in Indonesia is having an impact on ferronickel prices. And ferrochrome prices in China are mainly driven by a significant increase in demand.

Ferronickel prices remain strong and stable

According to Asian media, the ongoing shortage of nickel ore in Indonesia is likely to continue in May. The allocation of mining licences continues to be delayed and has forced several nickel smelters to curtail operations or suspend them altogether. Even though some smelters have now officially completed their maintenance work and resumed operations, output remains well below expectations due to the low availability of raw materials.

High demand for ferrochrome continues in May

Demand for ferrochrome was significantly stronger than expected in April. Demand from the stainless steel sector in particular came earlier than manufacturers had expected and appears to be continuing. According to media reports, bids for ferrochrome from stainless steel manufacturers were significantly higher than the expected price.

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