China’s alloy and ore chrome markets hit record lows on tender drop

Prices for UG2 chrome ore, China’s spot high-carbon ferro-chrome and imported charge chrome all dropped in the week to Friday March 13, after Tsingshan Group lowered its March tender price by 2.6% amid poor performance of the stainless steel market.

The spot market price for domestic ferro-chrome slid amid sparse trading activity following the tender announcement.
Fastmarkets’ price assessment for ferro-chrome, spot 6-8% C, basis 50% Cr, ddp China, was 5,600-5,800 yuan ($800-829) per tonne on Friday, down by 100 yuan or 1.7% from 5,700-5,900 yuan the previous week. The market was last at a lower level on April 22, 2016, when the price was 5,200-5,000 yuan per tonne.

Tsingshan Group, which is headquartered in eastern China, set its March high-carbon ferro-chrome tender price at 5,647 yuan ($807) per tonne,...

Published

Jon Stibbs

Siyi Liu

March 16, 2020

12:21 GMT

London, Shanghai