GLOBAL CHROME WRAP: Ore, alloy prices sink after Chinese mills slash July tenders

A sharp drop in July ferro-chrome tender prices from China’s leading mills triggered a further slide in spot ore and alloy prices last week.

Spot ferro-chrome price dropped by 4.6% in China UG2 chrome ore slid again Alloy prices under pressure in Japan and South Korea European alloy prices weaken again Chrome ore and ferro-chrome prices dropped in China in the week ended Friday July 5 after mills announced larger-than-expected cuts in alloy tender prices for July.

Fastmarkets’ price assessment for ferro-chrome spot 6-8% Cr, ddp China dropped by 4.6% week on week to 6,100-6,300 yuan ($884-$913) per tonne on Friday.

Trades have been limited amid subdued demand despite some small smelters lowering prices to secure sales.

China's leading stainless steel mills - Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - cut their July ferro-chrome tender prices by 450-500 yuan per tonne compared with June.

The...

Published

Janie Davies

Jon Stibbs

Nikki Ni

July 08, 2019

15:30 GMT

London, Shanghai