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.