UG2 chrome ore prices in China see third week of gains

The UG2 chrome ore index price ticked up for a third consecutive week on Tuesday December 7, amid improved downstream operating rates and dropping portside inventory.

Fastmarkets’ chrome ore, South Africa UG2 concentrates index, basis 42%, cif China stood at $170 per tonne on December 7, compared with $162 per tonne in the previous week, marking three weeks of increases.

The progressive upward trend may be linked to growing demand, following increased operation rates for alloy producers and falling portside inventory, as well as to concerns over shipment for seaborne material because of the omicron variant of Covid-19.

“Basically, the chrome ore inventory is now at a historically low level while ferro-chrome output is at a record high level, indicating robust demand for the material,” a producer source said.

Fastmarkets assessed chrome ore inventories at the...

Published

Claire Patel-Campbell

Sybil Pan

December 08, 2021

17:35 GMT

Shanghai, London