GLOBAL CHROME WRAP: Ore, alloy prices under pressure globally amid weak demand

Chrome ore prices dropped again in China and alloy prices weakened globally in the week ended Friday June 21 due to poor demand.

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...

Published

Janie Davies

Chris Kavanagh

Jon Stibbs

Amy Lv

June 25, 2019

09:43 GMT

London, Shanghai, New York