Ore and alloy prices unchanged in China, South Korea
Japanese market on holiday
Ferro-chrome in Europe stable
Alloy prices flat in the US
UG2 chrome ore prices in China were unchanged in the week Friday January 4, amid a comparatively quiet market in the first week after the New Year holiday.
Fastmarkets’ UG2 chrome ore index, cif China, sat at $155 per tonne on Friday.
The price of Turkish lumpy chrome ore into main Chinese ports was also stable at $215-225 per tonne.
Business was done at $155 per tonne for standard UG2 material. But some sellers had sold out of their February volume and did not want to start selling their March volume yet.
Chinese ferro-alloy smelters showed little interest in securing seaborne cargoes as many have stocked up for the Chinese New Year holiday (February 4-10).
“Whether we procure extra volume depends on the price of ore material...