Weak Chinese portside chrome ore and alloy prices weigh on seaborne market

The seaborne markets for chrome ore and alloy in China fell during the week ended Tuesday April 13, with lower offer prices sparking UG2 chrome ore liquidity and weak portside prices softening the charge chrome market.

Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China fell by $8 to $150 per tonne on April 13, down by 5.06% from $158 per tonne one week ago.
Lower offer prices for chrome ore have prompted some ferro-chrome smelters to return to the seaborne market this week, according to market participants.
“Because of the increased freight rates, the price today of $150 [per tonne] equals $130 or $135 [per tonne] before freight rates went up, which is reasonably good for ferro-chrome producers,” a chrome ore buyer said.
Meanwhile, some trading houses were heard to take a speculative position because they saw limited room for prices to fall further.

“Because logistics...

Published

Jon Stibbs

Siyi Liu

April 14, 2021

12:36 GMT

London, Shanghai