GLOBAL CHROME WRAP: Ore, alloy prices slide in China amid weak consumer interest

Poor demand for ore and alloy, on top of ample availability, has knocked chrome ore and alloy prices in China again.

  • 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 million tonnes on...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Jon Stibbs

October 22, 2019

07:42 GMT

London, Shanghai, New York