GLOBAL CHROME WRAP: Prices rise in China on tight market, rising freight costs; US, Europe markets subdued

Tightening supply in China pushed up chrome ore and domestic and imported charge chrome prices in the week to Friday February 2, while the European market dipped and the US price range widened.

Tight supply, transport disruptions push up domestic Chinese ore and alloy markets Charge chrome import prices jump on rand appreciation Prices edge up in Japan European market slips amid thin trading US market widens amid sporadic spot demand Chrome ore and ferro-chrome prices rose again in China on Friday February 2, amid tightening supply and higher inland freight costs due to the snowy weather.

Metal Bulletin’s price assessment for Chinese spot domestic ferro-chrome rose to 7,900-8,200 yuan per tonne from 7,800-8,100 yuan per tonne a week earlier.

The latest domestic spot ferro-chrome price is equivalent to $0.97-1.01 per lb.

“Chinese domestic spot cargoes prices are rising on tight supply and higher inland freight charges, especially in northern China due to snow, which makes inland transportation difficult,” a major ferro-chrome trader said.

Import prices also rose since the appreciation of the South African...

Published

Janie Davies

Ellie Wang

Chris Kavanagh

Karen Ng

February 05, 2018

13:29 GMT

Shanghai, Singapore, New York, London