GLOBAL CHROME WRAP: Ore suppliers cut offers to stimulate weak market; European alloy market supported by tightening supply

The UG2 chrome ore index slid again in China after poor demand prompted suppliers to lower their offers in the week to Friday November 1, while falling ferro-chrome supply in Europe helped the regional high-carbon market edge up by 0.6%.

Suppliers cut offers for chrome ore amid weak demand  Chinese spot alloy prices flat in thin trading  Alloy supply tightens in Europe  US price maintains range on absent spot demand The UG2 chrome ore index dropped by 4% week on week in China on Friday November 1 after suppliers cut their offers in response to recent stagnant demand. Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China dropped to $143 per tonne on Friday from $149 per tonne previously and for the third consecutive week.  Meanwhile, Fastmarkets’ weekly assessment for chrome ore Turkish lumpy 40-42%, cfr main Chinese ports dropped by $5 to $195-205 per tonne on Friday. Even after launching lower offers, overseas suppliers struggled to entice Chinese buyers’ who favored locally available chrome ore already...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Jon Stibbs

November 04, 2019

17:20 GMT

Shanghai, London, New York