Ore, alloy chrome producers expect stronger market after Chinese holiday

UG2 chrome ore prices cif China were steady in the week ended Friday January 24, with trading activity stalled during the Chinese new year holiday, which has been extended to February 2 amid health concerns over the spread of a coronavirus infection.

Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, was $136 per tonne on Friday, unchanged from the previous week.
But market sentiment remained positive and the chrome ore market was expected to strengthen when buyers return to work after the holiday, according to some market participants.
“Every year, we see a surge in chrome ore prices after the [Chinese new year] break,” a trader said.

The price for UG2 chrome ore rose by 2.5% after the lunar new year holiday in February 2019...

Published

Jon Stibbs

Siyi Liu

January 27, 2020

14:00 GMT

London