Fastmarkets’ calculated its chrome ore, South Africa UG2 concentrates index, basis 42%, cif China
, down by $11 per tonne (6.3%) at $165 per tonne on Tuesday September 7, from $176 per tonne on August 31.
Buyers in the north continued to focus on consuming current stocks and showed little interest in seaborne material.
And demand from southern smelters also dropped following previous restocking activity and recent production restrictions.
Smelters in Guizhou province were required to suspend production due to electricity shortages, with no notice about how long this will last, sources told Fastmarkets. The southwestern province produced around 62,000 tonnes of high-carbon ferro-chrome in August, according to participants.
This was in addition to suspended ferro-chrome production in Guangxi province, where around 30,000 tonnes per month output is estimated to have been affected.