GLOBAL CHROME WRAP: Chinese holidays push chrome market into lull

The global chrome market fell dormant heading into the Chinese New Year holidays, with no resolution to the stand-off between Chinese mills and South African chrome miners expected until after China returns from its holiday hiatus.

A lack of enquiries from Chinese buyers has kept chrome ore prices largely unchanged, and the Lunar New Year holidays have meant there has been no further test on sellers’ offers. In light of the inactivity, UG2 chrome ore prices held steady at $390-400 per tonne, cif Chinese ports, on Friday January 27, according to Metal Bulletin’s latest assessment. Meanwhile, Turkish chrome ore prices edged lower to $400-410 per tonne cif Chinese ports on Friday, down 1.2% from $405-415 per tonne previously. “The market as a whole will continue to watch the big battle being fought between South African miners and Chinese mills, and that will play out but we will have to wait a bit until after the holidays,” a supplier source told Metal Bulletin sister title AMM. “Even after the Chinese return [from the holiday] the stare-down will continue.” Market participants were quick to rebuff the notion that the global chrome...

Published

Chris Kavanagh

January 31, 2017

12:42 GMT

New York