WEEKLY: China’s chrome ore prices reach 6.5-month high
May 19, 2020 16:00
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After holding steady for nearly three weeks, the price of South Africa-origin 42% grade chrome concentrates at North China’s Tianjin port rose last week to Yuan 30.75/dmtu ($4.3/dmtu) as of May 15, up by Yuan 0.25/dmtu from May 9 and its highest point since last October 21 , Mysteel’s database showed. Propelling the prices up were higher offer prices from South African miners, according to Mysteel’s weekly survey.
Most Chinese traders and smelters had interest in replenishing their stocks of imported chrome ore, believing that supplies will be tight in the near term, so last week some had accepted the firmer offer prices from South African suppliers, the survey found.
Transaction prices for 40%-42% grade chrome concentrates settled between