China’s UG2 chrome ore price supported by ferro-chrome strength

The UG2 chrome ore price in China rose for a third consecutive week despite an absence of trading activity amid the holiday season after sentiment was boosted by gains in the ferro-chrome market.

Fastmarkets’ chrome ore South Africa UG2 concentrates index, basis 42%, cif China rose to $133 per tonne on Tuesday December 29, up by $1 per tonne (0.8%) from $132 per tonne a week earlier.
There was scant activity in the seaborne market this past week owing to the absence of participants due to the Christmas holiday, while portside prices rose by 1 yuan ($0.15) per dry metric tonne unit (dmtu) to 25.5-26 yuan per dmtu, according to market participants.

“Alloy producers, mostly small-sized ones, are looking to procure their feedstock,” a...

Published

Siyi Liu

December 30, 2020

04:18 GMT

Shanghai