Fastmarkets’ chrome ore South Africa UG2 concentrates index, basis 42%, cif China
, fell by $4 per tonne (-2.9%) to $135 per tonne on Tuesday, from $139 per tonne a week earlier.
“More people are looking to sell than are looking to buy, pushing the prices down,” a seller said.
The subdued buying interest was mainly attributed to there being sufficient stocks in buyers’ possession and ample supply immediately available at ports.
“Cargoes previously purchased at $132 per tonne arrived before and after the [Chinese Golden Week] holiday [at the start of October], so no one is in a rush to buy,” a trader source said.
Liquidity was said to be limited.