UG2 price down on low demand, high stocks
Chinese domestic alloy price falls on slow demand
Imported alloy price holds in China
Alloy price inches up in Europe
US price steady, support from well-controlled supply
The imported UG2 chrome ore price weakened in China on Friday October 18 after sales of MG grade ore were concluded at lower prices, while ample availability of UG2 in ports weakened market sentiment at a time of low demand.
Fastmarkets’ South Africa UG2 concentrates index, basis 42%, cif China dropped to $153 per tonne on October 18, down by $2 per tonne from $155 per tonne a week earlier.
“Chrome ore supply is adequate, with shipments to China remaining high in recent months. Producers have huge selling pressure,” a trader source told Fastmarkets.
Fastmarkets assessed chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai at 2.88-2.97...