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....