Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China
was at $165 per tonne on Friday, down by $4 per tonne (2.4%) from $169 per tonne a week earlier.
Market sentiment among Chinese ore buyers softened last week as a result of continued weakness in the downstream stainless steel sector
as well as the spot domestic ferro-chrome market, which reported a decline for a third consecutive week due to lowered spot offer prices with suppliers’ attempting to destock amid subdued spot demand.
Fastmarkets’ weekly price assessment for ferro-chrome spot 6-8% C, basis 50% Cr, ddp China
was at 6,100-6,500 yuan ($862-919) per tonne on Friday, widening downward by 100 yuan per tonne from 6,200-6,500 yuan per tonne a week earlier.
“The backtrack of the spot market indicates the good availability of material and the reduced buying interests from mills, which casts a...