GLOBAL CHROME WRAP: Falling demand, negative outlook soften global chrome market

Chrome ore and alloy prices in Asia, Europe and the United States all fell in the week ending Friday May 10 in response to softening demand and amid low trading activity.

Domestic ferro-chrome, imported charge chrome prices in China fall UG2, Turkish lumpy chrome ore markets in China drop Low demand weighs on global alloy prices China’s domestic spot market ferro-chrome price continued to fall amid abundant supply, while domestic stainless steel mills showed limited interest in buying. Fastmarkets assessed the Chinese spot market domestic ferro-chrome price at 6,800-7,000 yuan ($990-1,019) on Friday May 10, a drop of 100 yuan per tonne or 1.4% from 6,900-7,100 yuan per tonne the previous week. “It’s very easy to source [ferro-chrome] cargoes at a price below 7,000 yuan per tonne in southern China [on delivery and including the value-added tax]. However, mills showed little interest in restocking more volumes because they have been focusing on destocking [stainless steel],” a China-based market source said. A ferro-chrome price of 7,000 yuan per tonne in southern China is also lower than Baosteel’s May tender price at 7,100 yuan per tonne,...

Published

Chris Kavanagh

Karen Ng

Jon Stibbs

Amy Lv

May 14, 2019

07:20 GMT

London, Shanghai, Singapore, New York