- Chrome ore prices up on higher offers
- Alloy downtrend capped amid stronger upstream market
- Japanese, South Korean markets flat during holidays
- European alloy prices rise
- US prices slightly firmer on thin trader inventories.
Prices for UG2 chrome ore rose on Friday January 3 after South African producers increased their offers amid improved sentiment in the market.
Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China
, rose to $133 per tonne on Friday from $130 per tonne in the previous week.
“Some buyers felt the urge to buy before the price edged upward,” a trader source told Fastmarkets.
A producer reported receiving several bids at higher prices week on week but met resistance elsewhere.
“We have had higher bids coming in over the holiday period,” the producer said. “We have increased our offer price but had some resistance.”
Some buyers remained on the sidelines of the market and...