Tender rollover consolidates China’s UG2 chrome ore, ferro-chrome prices

The prices of imported chrome ore and alloys were stable over the week ended Tuesday October 13, with only light liquidity in the market after the latest ferro-chrome tender roll-overs from China’s steel mills, while there was active trading activity amid post-holiday restocking in the domestic market.

The UG2 market was unchanged, however, with little business reported.
Fastmarkets’ chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was steady for a third consecutive week at $139 per tonne on Tuesday.
There were reports of some buyers making lower bids on their return from China’s Golden Week holiday, which ran October 1-8. But there was no indication that producers were prepared to lower their own offer prices.
At the same time, offers above $140 per tonne were not accepted during the pricing session.

Market participants reported that sentiment was stable after China’s largest steel mills kept their...

Published

Jon Stibbs

Siyi Liu

October 14, 2020

13:28 GMT

London, Shanghai