GLOBAL CHROME WRAP: Ore stand-off continues as South Africans stand firm; FeCr edges higher in USA

The stand-off between South African chrome ore producers and their customers in China has continued for another week, leaving market participants speculating over which side will crack first, and causing some regional ferro-chrome markets to slow, awaiting direction.

South African UG2 chrome ore prices held firm on February 10 at $390-400 per tonne cif Chinese ports as Turkish lumpy chrome ore prices (40-42% Cr) held at $400-410 per tonne, cfr Chinese ports. "I do not feel any downtrend. I know that big South African suppliers are insisting on $390-400 per tonne," one chrome ore supplier told Metal Bulletin. Major South African chrome ore suppliers have held their offer prices unchanged for about two months and refuse to release new offer prices, sources in China said, noting that domestic ferro-chrome producers have responded by showing little interest in chrome ore in recent weeks. Buyers have started to seek material but have been disappointed to see no leeway on offers, sources said. "Chinese buyers are now asking when material can be shipped. They see that offers aren’t moving, so they’re going to have to buy at these levels," a South...

Published

Janie Davies

Fleur Ritzema

Ellie Wang

Charlotte Radford

Chris Kavanagh AMM

February 14, 2017

15:14 GMT

London, Shanghai, New York