The demand for ferrochrome, a raw material for stainless and special steel, has also weakened due to sluggish global stainless-steel demand, leading to a drop in prices. However, unlike nickel, the price decline for ferrochrome has not been as severe. Interestingly, chrome ore, its raw material, has remained relatively stable. As of late September, UG2 chrome ore was priced at $270 per ton, a drop of around $40 from early September’s $310. Charge chrome, meanwhile, remains at around 95 cents per pound, similar to its level in March of this year. But why is this the case?

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