Ore prices down for seventh week running
Charge chrome import prices weaken in China
Alloy prices dip in Japan, South Korea
European alloy prices slump
US market flat once again
UG2 chrome ore prices in China slid for the seventh consecutive week on Friday after some suppliers cut offer prices to encourage sales.
Fastmarkets’ UG2 chrome ore index, cif China, hit a fresh two-year low of $144 per tonne on Friday, down by $3 per tonne week on week.
Some chrome ore traders cut offer prices to secure sales ahead of the announcement of July ferro-chrome tender prices, which are expected to drop, sources said.
“Inquiries [for UG2 chrome ore] have improved in the past week and most of them came from traders who were actively hunting for bargains,” a chrome ore trader said.
Still, others refrained from offering in the absence of clear direction...