Fastmarkets’ chrome ore South Africa UG2 concentrates index basis 42%, cif China
price assessment was $150 per tonne on May 11, a rise of $1 (0.67%) from $149 per tonne a week earlier.
“The number of inquiries we received was the highest for three months,” a chrome ore seller said. “Market fundamentals haven't really changed but market sentiment strengthened due to the bullish downstream steel sector and concerns over seaborne shipments amid volatile freight rates.”
Similarly, the portside chrome ore market also firmed on renewed demand from smelters, sources said.
Traders reported deals to Fastmarkets at 26.50 yuan ($4.13) per dry metric...