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...