GLOBAL CHROME WRAP: UG2 chrome ore price falls further on sparse purchasing

Chrome markets weakened again in China in the week ended Friday November 8 on subdued demand and pressure on smelters to generate cash before year-end.

Imported ore and alloy prices down on thin demand  Chinese spot ferro-chrome prices drop on suppliers’ selling pressure  Alloy prices hold in Japan, South Korea  European alloy price range narrows upward  US spot market on hold during 2020 negotiations The UG2 chrome ore price continued to fall in the pricing session on Friday after Chinese buyers avoided large purchases amid rising inventories.

Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China dropped to $140 per tonne on Friday from $143 per tonne previously.

Some deals were reported at $140 but most buyers remained on the sidelines of the market, while some sources said sellers and customers had reached an impasse in negotiations.

“There is a full standoff on UG2 and no...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Declan Conway

November 12, 2019

11:15 GMT

London, Galway, Shanghai, New York