Spot and Futures Prices of Chrome Ore Kept Falling amid the Strong Bear Market Prediction from the Buyers

 

[Ferro-Alloys.com]The stockpile of chrome ore in ports remained at around 2.15 million tons in Oct.1-11. The purchasers from downstream posed no positive attitude to make orders for chrome ore. Meanwhile, traders of chrome ore had no desire to sell. The tender price of ferrochrome from the steel mills declined in October. The ferrochrome producers had to lower their purchasing price for chrome ore, in order to cut the producing cost.

 

The spot price for chrome ore concentrate from South Africa and Turkey declined slightly this week, and it kept stable for others. South Africa origin chrome ore concentrate (Cr 40-42%) was mainly quoted at ￥29-30.5/mtu, down by ￥0.5; South Africa origin chrome ore concentrate (Cr 44%) was quoted at ￥31.5-32.5/mtu, down by ￥0.5；South Africa origin chrome ore lumps (Cr 38%) was quoted at ￥35-36/mtu; Turkey origin chrome ore lumps (Cr 42%) was quoted at ￥48-49/mtu; Turkey origin chrome ore concentrate (Cr 46-48%) was quoted at ￥44.5-45.5/mtu, down by ￥0.5; Chrome ore lumps (Cr 42%) from Iran, Pakistan and Albania was traded at ￥48-49/mtu; Oman chrome ore lumps (Cr 38%) and (Cr 32%) were quoted at ￥41-42/mtu and ￥33-35/mtu respectively. 

 

At the same time, some of the futures prices for chrome ore dipped further. South Africa origin chrome ore concentrate Cr40-42% was mainly quoted at $176-180/mt; South Africa origin chrome ore concentrate Cr44% was mainly quoted at $188-190/mt, and South Africa origin chrome ore lumps Cr36-38% was mainly quoted at $170-175/mt; Turkey origin chrome ore lumps Cr42% was quoted at $265-270/mt; Turkey origin chrome ore lumps Cr46-48% was quoted at $275-280/mt, down by $5; Iran origin chrome ore lumps Cr42% was quoted at $250-255/mt, down by $5; Pakistan origin chrome ore lumps Cr42% was quoted at $260-265/mt; Oman origin chrome ore lumps Cr38% was quoted at $185-190/mt, down by $5; Oman origin chrome ore lumps Cr32-34%, Cr30-32% were quoted at $150-155/mt,  $130-135/mt respectively. The miners lowered their prices, but most of the buyers posed a wait-and-see attitude towards the market with bear market expectation due to the weak alloys market.

 

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