UG2 chrome ore climbs by $1
Domestic spot ferro-chrome prices holds in China; flat February tenders predicted
Alloy prices soften in South Korea but unchanged in Japan
Alloy prices hold steady in Europe
UG2 chrome ore prices rose slightly on Friday January 18 due to increased demand for seaborne cargoes in the run-up to Chinese New Year early next month.
Fastmarkets’ UG2 chrome ore index, cif China, gained by $1 per tonne to $158 per tonne on Friday.
“Though our offer prices were almost unchanged from the week before, an increasing number of buyers seemed to have become willing to accept the prices,” a trader told Fastmarkets.
Expectations that demand for Chinese ferro-chrome should pick up from the second quarter of this year are prompting smelters to procure the necessary raw materials beforehand, a second trader said.
“We sold some March volume to some Chinese ferro-chrome smelters who...