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 higher-than-expected cut in July...