Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China
edged up by $1 per tonne to $138 per tonne week on week on Tuesday September 15.
“There has been a little flurry of activity in recent weeks and a gradual uptick in demand,” a trader said.
Sentiment increased in response to market reports of extremely low exports of chrome ore and ferro-chrome from South Africa in July and the strong alloy consumption in the steel sector, one producer said.
China imported 1.14 million tonnes of chrome ore in July
, up by 44% from 790,097 tonnes in June, but also down by 16% from the 1.4 million tonnes imported in July 2019, China’s customs data shows.
“We think the market should be $145-170 per tonne on average this year so we’ll wait until we’re in that range [before...