UG2 prices gain $6 per tonne in a week
Domestic, imported ferro-chrome prices rise in China
Alloy prices edge up South Korea
Alloy prices steady in Japan
European, US alloy prices edge higher
UG2 chrome ore prices jumped on Friday March 1 amid stronger demand and after a major Chinese stainless mill raised its ferro-chrome tender price, boosting market sentiment.
Fastmarkets’ UG2 chrome ore index, 42%, cif China, stood at $172 per tonne on March 1, up by $6 per tonne or 3.6% from $166 per tonne in the preceding week. The index is now up 11% since the beginning of the year.
The majority of chrome ore traders refrained from offering this past week amid anticipation of further price increases in the coming weeks.
The market has also been supported by the appreciation of Chinese yuan, which makes it cheaper for Chinese buyers to import, and...