UG2 chrome ore prices dip again; ferro-chrome markets hold still

The UG2 chrome ore market fell over the week ending December 8, which sparked a rise in liquidity as buyers sought to acquire material.

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...

Published

Jon Stibbs

Siyi Liu

December 09, 2020

12:36 GMT

London, Shanghai