UG2 prices hold in China
Charge chrome import prices hold in China, domestic alloy prices edge lower
Alloy prices hold in Japan, weaken in South Korea
Alloy prices continue lower in Europe
Chrome ore and ferro-chrome prices were largely stable in China on Friday in thin trading conditions due to sellers’ reluctance to lower offers, while buyers’ held out in anticipation of further price drops and December ferro-chrome tenders.
China’s stainless steel mills are due to release tenders by the end of November and market participants have been on the sidelines awaiting those announcements.
A strengthening of the South African rand against the dollar helped to limit downside in both chrome ore and ferro-chrome prices because the resulting increase in production costs precludes lower offers from South African producers, sources said.
Fastmarkets’ UG2 chrome ore index, cif China, held at $163 per tonne on Friday.
Fastmarkets’ price quotation...