China’s ferro-chrome imports rose 31.5% in December, with demand expected to remain high on growing consumption from the stainless steel sector.
The December figure took total imports to 2.2 million tonnes, a year-on-year increase of 97.8%, according to the latest data from Chinese customs. Ferro-chrome(C>4%) imports surged 31.5% from November to 196,134 tonnes in December, 321% higher year-on-year.
“China imported a large amount of ferro-chrome during the fourth quarter of 2008 to the second quarter of this year [2009] when overseas demand dramatically fell during the global financial crisis,” an importer in Shanghai said.
Between the fourth quarter of 2008 and the second quarter of last year, domestic ferro-chrome furnaces were running at low levels due to lower import prices, a trader in Beijing noted. |