- UG2 chrome ore index hits record low
- Spot domestic Chinese alloy price continues to fall on thin demand
- Charge chrome imports stall in China in stagnant market
- European prices weaken amid poor demand
Imported UG2 chrome ore prices dropped for the fifth consecutive week on Friday November 15, down by 7.1% after some suppliers cut offer prices sharply amid strong resistance from buyers due to oversupply and rising inventories.
Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China
dropped to $130 per tonne on Friday November 15, the lowest ever recorded by the index and down by $10 per tonne from $140 per tonne on November 8.
Liquidity was high in the UG2 market in response to the sharp...