GLOBAL CHROME WRAP: Ore prices jump on nickel, stainless steel strength

Chrome ore prices responded to strength further downstream amid rising nickel prices and bullish sentiment around stainless steel.

Chrome ore prices jump $5/t Alloy prices flat in China, producers poised to raise offers Alloy prices slide in Japan, hold in South Korea European alloy market holds US prices tumble under pressure from weak global markets Chrome ore prices rebounded on Friday July 19 due to a boost from stronger stainless steel and nickel markets. Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China, rose by $5 per tonne, or 3.5%, to $146 per tonne on July 19. “I’ve definitely seen an increase in inquiries for ore in the past 10 days,” a trader told Fastmarkets. The uptick marks a significant change in sentiment after a sharp cut in July tender prices by Chinese mills two weeks ago. “While I'm not sure [how long] the increase will last because the fundamentals are still quite negative, I do sense traders feel the market...

Published

Janie Davies

Chris Kavanagh

Jon Stibbs

Nikki Ni

July 23, 2019

08:12 GMT

New York, London, Shanghai