GLOBAL CHROME WRAP: Imported chrome prices in China keep sliding on poor demand, sentiment

Poor demand and deteriorating sentiment are keeping prices for imported chrome products under pressure in China.

UG2 prices hit two-year low in China Imported charge chrome prices weaken, spot ferro-chrome prices hold during holiday Alloy prices hold in Japan, South Korea European alloy prices dip Alloy prices hold in United States  UG2 chrome ore prices dropped in China for the fifth consecutive week on Friday June 7 amid persistently bearish sentiment. Fastmarkets’ UG2 chrome ore index, cif China, fell to a two-year low of $150 per tonne on June 7, down $2 per tonne. Many chrome ore traders held back offers for seaborne cargoes to China amid limited buying interest from ferro-chrome smelters, while some producers were reportedly reluctant to cut offers below $150 per tonne. “No one was offering below $150 per tonne because even if they offer below that level, buyers would expect a much lower price and room for profits would be further narrowed,” a Chinese market source said....

Published

Janie Davies

Karen Ng

Jon Stibbs

Amy Lv

June 10, 2019

14:40 GMT

London, Singapore, Shanghai