UG2 chrome ore market trends upward despite alloy price fall

The UG2 chrome ore market continued its upward trend in the week to Tuesday November 30 with strengthened sentiment fueled by declining supplies of immediately available material and buoyant demand.

This was despite the falling prices seen in the ferro-chrome and stainless steel markets.
Fastmarkets’ assessment of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, rose by $4 per tonne (2.5%) to $162 per tonne on Tuesday, from $158 per tonne the previous week.
There was rising demand from alloy producers, coupled with steady drops in port inventories over the past month, on higher consumption and reduced cargo inflows.

Fastmarkets assessed chrome ore inventories at the main ports of Tianjin, Qinzhou, Lianyungang...

Published

Claire Patel-Campbell

Siyi Liu

December 01, 2021

15:55 GMT

London, Shanghai