Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China
edged down by $1 per tonne, or 0.7%, to $152 per tonne on July 10 from $153 per tonne the preceding week.
“There is a lot of wait and see - buyers are holding off for lower prices,” a trader told Fastmarkets.
The index has registered a five-week downtrend since June 5 when it was calculated at $170 per tonne, a total reduction of $18 per tonne or 10.6%, due to lower July ferro-chrome tender prices
and slow buying activity amid good availability of chrome ore stocks.
Fastmarkets assessed chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai
at 3.19-3.48 million tonnes on Monday July 13, down by 1.6% from 3.26-3.52 million tonnes a week earlier.
Port stocks have been consecutively declining in the past three weeks,...