Fastmarkets’ chrome ore South Africa UG2 concentrates index, basis 42%, cif China
fell for the fifth consecutive week to $129 per tonne on Tuesday, down by $2 per tonne or 1.5% from $131 per tonne the preceding week. The index has declined by $10 per tonne or 7% since November 3.
“Demand has been incredibly strong but it’s price sensitive,” a producer said. “It seems this is the bottom of the market because we’ve seen buying interest and prices rise since the start of the week.”
The market has declined since Tsingshan lowered its tender for December material
, sources told Fastmarkets.
“Suppliers are having to give up...