Dull Market of Chrome Ore despite Termination of Declining Price of Ferrochrome

 

[Ferro-Alloys.com]Chrome ore market was flat with light volume, even through the declining price of ferrochrome terminated in November. Most producers purchased on spot chrome ore only every two months. Chrome ore traders, especially in Southern China, would like to lower their prices in order to make deal with the purchasers, but the producers refused to order more and even cut their purchasing volume because of their deficit during the production. Increase of volume and price for chrome ore might not be seen in the last two months of 2014 because of the weak demand from the downstream.

 

The spot prices for high-carbon ferrochrome remained stable last week. South Africa chrome ore concentrate 40-42% and 44% were mainly quoted at rmb29.5-30.5/mtu and rmb31-32/mtu, and lumpy 38% at rmb35-36/mtu; 42% Turkey lumpy at rmb47-48/mtu, concentrate 46-48% at rmb44-45/mtu; Iran lumpy 42%, Pakistan lumpy 42% and Albania lumpy 42% were quoted at rmb47-48/mtu; Oman lumpy 32% and 38% were quoted at rmb33-35/mtu and rmb41-42/mtu. 

 

Meanwhile, futures prices for chromes kept steady last week. South Africa origin chrome ore 40-42% concentrate and 44% concentrate, 36-38% lumpy were mainly quoted at $176-180/t, $188-190/t and $170-175/t respectively. Turkey origin 42% lumpy and 46-48% concentrate were quoted at $265-270/t and $275-280/t. Iran 42% lumpy and Pakistan 42% lumpy were quoted at $250-255/t and $260-265/t. Oman 38% lumpy, 32-34% lumpy and 30-32% lumpy were mainly quoted at $185-190/t, $150-155/t and $130-135/t respectively.

 

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