China’s UG2 chrome ore, ferro-chrome markets drift on lower July tenders

The UG2 chrome ore, charge chrome and Chinese domestic spot ferro-chrome markets all drifted lower in the week to Friday July 3 on weakening sentiment after the main Chinese stainless steel mills lowered their tender prices for July.

Following the recent drop in chrome ore prices, Tiayun Iron & Steel (Tisco), Tsingshan Group and Baosteel all lowered their high-carbon ferro-chrome tender prices for July by $14 per tonne.
As a result, Fastmarkets’ ferro-chrome contract 6-8% C, basis 50% Cr, ddp China moved down to 6,100-6,300 yuan ($867-895) per tonne on Friday, down by 100 yuan, or 1.6%, from 6,200-6,400 yuan in June.
The lower tenders have weighed on the Chinese domestic spot ferro-chrome market, with Fastmarkets’ weekly price assessment for ferro-chrome spot 6-8% C, basis 50% Cr, ddp China dropping by 2.4% to 6,000-6,300 yuan per tonne on Friday, from 6,100-6,500 yuan per tonne a week earlier.

Despite the dip, alloy...

Published

Jon Stibbs

Siyi Liu

July 06, 2020

16:44 GMT

London, Shanghai