Weakness in China’s UG2 chrome ore market continues; ferro-chrome prices flat

China’s UG2 chrome ore price fell again in the week to Tuesday November 24, albeit at a slower rate than in previous weeks, while the ferro-chrome market extended its run of stability.

Fastmarkets’ chrome ore South Africa UG2 concentrates index, basis 42%, cif China was $133 per tonne on Tuesday, down by $1 per tonne (0.7%) from $134 per tonne a week earlier. The index has declined by $6 per tonne (4.3%) so far in November.
“We are struggling to keep prices up, so it seems the market is definitely softer this week,” a trader said.
Trading activity was said to be limited, with both sides taking adopting a wait-and-see stance while awaiting clearer direction in the market.

“We have heard some aggressive bids; we will be watching...

Published

Jon Stibbs

Siyi Liu

November 25, 2020

07:06 GMT

London, Shanghai