Ore and alloy prices flat in China ahead of new tender price announcement
Alloy prices weaken in Japan, South Korea
European price range narrows, with market participants reporting continued poor demand
US spot market stagnant, while focus locked on 2020 contract talks
Chrome ore and ferro-chrome prices held in China on Friday while market participants awaited December alloy tender prices from leading mills.
Fastmarkets’ South Africa UG2 concentrates index, basis 42%, cif China held at $130 per tonne on Friday.
Business was reported flat week on week; some suppliers tested the market with higher offer prices but persistent high ore inventories have kept the outlook bearish.
“We are in discussion over higher numbers but the market is very fragile at the moment and it might or might not...