UG2 chrome ore prices down by $1 per tonne in China
Domestic, imported ferro-chrome prices hold in China
Low-carbon ferro-chrome prices halt their decline in Europe
High-carbon ferro-chrome prices unchanged in Europe
US high-carbon ferro-chrome market rebounds slightly
UG2 chrome ore prices slipped in China on Friday August 9, breaking a four-week rally amid cooling sentiment and a weaker Chinese yuan.
Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China dropped by $1 per tonne week on week to $155 per tonne on August 9.
The depreciation of the yuan against the US dollar has pushed up import costs for Chinese buyers, dampening purchasing appetite across various commodities, according to market participants.
“The increase in ore prices we have recently seen has run out of steam. The market has paused in response to the depreciation in the yuan,” a trader told Fastmarkets.
The exchange rate weakened to 7.1 yuan to...