GLOBAL CHROME WRAP: Chrome ore prices stall amid Lunar New Year hiatus; FeCr prices dip on crash worries

Although the chrome ore stand-off has continued, global ferro-chrome prices slipped in the week ended Friday February 3 due to uncertainty in the market as market participants awaited the return of the Chinese from the Spring Festival holiday.

Chrome ore market stalls The chrome ore market remained stable last week, as the Chinese remained largely absent from the market amid the Chinese New Year holiday hiatus between January 28 and February 2, while large miners remained unwilling to lower offer prices. South African miners continued to hold UG2 prices steadily at $390-400 per tonne cif Chinese ports on February 3, according to Metal Bulletin’s latest assessment.  As Chinese chrome ore buyers had not returned from the holidays as of the latest assessment, no new offering prices were issued by South African chrome ore miners as of February 3, Metal Bulletin learned. "South African chrome ore prices haven’t moved," an ore supplier source told Metal Bulletin at the time. "We’re all sold out." Chinese ferro-chrome producers are not eager to purchase ore at this time, as the imports of chrome ore were elevated in the second half of last year, resulting...

Published

Fleur Ritzema

Ellie Wang

Chris Kavanagh, AMM

February 07, 2017

18:03 GMT

New York, Shanghai, London