Asian Metal visits some ferrochrome producers and TISCO in Shanxi

On July 25-27, Ms. Alice Mu, senior analyst of chromium market and Mr. Yu Chao, project supervisor of Asian Metal, visited some ferrochrome producers and TISCO in Shanxi.

Asian Metal came to Xinganglian Metallurgy Co., Ltd and was welcomed by Ms.Yuan Ling, manager of mineral department and Mr.Zhou Xiliang from the same department on the afternoon of July 25. They said TISCO just released the purchasing price of high carbon ferrochrome 50% for August at RMB7,550/t delivered with cash payment, down by RMB100/t compared with the previous month. Considering the slowing down of Chinese economic development, they are not optimistic about the future market. Meanwhile, Asian Metal met Mr. Liu Fei, manager of ore department of Shanxi Yuansheng Trading Co., Ltd. by the recommendation of Mr. Zhou Xiliang.

On the morning of July 26, Asian Metal visited Pinglu Changsheng Stainless Steel Co., Ltd. and exchanged opinions about the chrome market with Mr.Yao Hongbin, vice general manager. Meanwhile, Mr.Yao expressed great support for the World Chromium Forum 2012 to be held in Taiyuan on November 1-2 hosted by Asian Metal.

Meanwhile, Asian Metal called on Shuozhou Tiancheng Electricity Charging Co., Ltd. on the afternoon of July 26. Mr.Qiu Xiaojun, vice general manager of the company, told Asian Metal that the increasing wages of those workers push up ferrochrome production costs. However, as most consumers press down ferrochrome prices, they have to lower chrome ore purchasing prices. Due to much higher prices of imported chrome ore, they prefer to get more spot chrome ore in Chinese main ports.

On the morning of July 27, Asian Metal came to Shanxi Jinzhong Wanbang Industrial & Trading Co., Ltd. and got warmly welcome from Mr.Qi Guizeng, vice general manager. The company has long-term good relationship with TISCO in Taiyuan and two 70,000KVA furnaces would start to operate in the second quarter of 2013, when Jinzhong Wanbang would take up 50-60% of TISCO's total ferrochrome purchasing volume.

Finally, Asian Metal visited TISCO in Taiyuan and talked with Mr.Li Runlin, section chief of raw material purchasing department about the World Chromium Forum 2012 to be held in Taiyuan on November 1-2. Mr.Li Runlin said that they would give great help for Asian Metal's conference in Taiyuan.