- Chrome ore prices down amid high inventories and imports
- Spot domestic Chinese alloy prices held in slow trading
- Imported alloy prices dropped under selling pressure
- US alloy prices tick up despite thin spot trading
- European price range narrows in balanced market
The price of UG2 chrome ore dropped on Friday October 25, which reflects deteriorating sentiment due to rising port inventories and imports. These resulted in Chinese buyers’ bidding for feedstock at lower prices.
Fastmarkets’ South Africa UG2 concentrates index, basis 42%, cif China
dropped to $149 per tonne on Friday October 25 from $153 per tonne previously.
A continuous climb in port inventories and a rise in the country’s chrome ore imports to a fresh 18-month high have caused sentiment in China to worsen.
Fastmarkets assessed chrome ore inventories at the Tianjin, Qinzhou, Lianyungang and Shanghai ports at 2.99-3.06 million tonnes on October 28, up from 2.88-2.97 million...