GLOBAL CHROME WRAP: UG2 chrome ore prices weaken in China on sufficient stock; US market falls on aggressive bids [CORRECTION]

UG2 chrome ore prices broke a seven-week upward trend on Friday April 5 due to weaker demand after consumers cited sufficient stock, while alloy prices in the United States weakened and were subdued in Europe.

UG2 prices slip $1 per tonne, Turkish lump stabilizes Alloy prices steady in Japan, South Korea Alloy prices hold on Chinese public holiday Alloy prices drop in Europe UG2 chrome ore prices weakened in China on Friday after seven consecutive weekly increases, amid thin buying interest from domestic ferro-chrome smelters.

Fastmarkets’ UG2 chrome ore index, cif China, fell by $6 week on week to $180 per tonne.

Chinese ferro-chrome smelters cited sufficient inventory as the reason for not restocking ore.

“There is no need for us to restock because our cargoes, purchased in early February, have arrived at ports and could meet our immediate production needs. It is not the right time to place orders when we believe the price will fall in the near future,” a Chinese ferro-chrome smelter told Fastmarkets.

Many chrome ore traders held back from offering due to...

Published

Janie Davies

Chris Kavanagh

Karen Ng

Jon Stibbs

Amy Lv

April 12, 2019

10:54 GMT

London, Shanghai, Singapore, New York