GLOBAL CHROME WRAP: Record low for UG2 chrome ore index as supply piles up

UG2 chrome ore prices sank to $130 per tonne this past week, marking a record low for Fastmarkets' cif China index.

  • 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...

Published

Janie Davies

Susan Zou

Jon Stibbs

November 19, 2019

09:27 GMT

London, Shanghai