Fastmarkets’ South Africa UG2 concentrates index, basis 42%, cif China
fell for a fifth consecutive week to a four-year low of $114 per tonne on Friday. This was down by $8 per tonne or 6.6% from $122 per tonne a week earlier.
The UG2 chrome ore price dropped after selling pressure built for South African miners due to limited deals concluded in the past four weeks.
“It is a big fall but it no secret there have not been a lot of sales recently,” a producer said. “And the rand has been falling heavily, which has had a big impact.”