WEEKLY: China’s chrome ore prices hit 13-month high
May 26, 2020 16:30
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The price of South Africa-origin 42% grade chrome concentrates at North China’s Tianjin port rose further to Yuan 33.5/dmtu ($4.7/dmtu) as of May 22, up by Yuan 2.75/dmtu on week to reach its highest point since last April 12, Mysteel’s database showed. Prices of the chrome concs have been propelled higher by the continuous increase of ferrochrome (FeCr) prices and by market jitters about unstable concentrates supplies from overseas, according to Mysteel’s weekly survey.
The lift in the raw mats price mirrors the higher prices domestic stainless mills are bidding for FeCr supplies these days, survey respondents said. Tsingshan group, China’s and the world’s largest stainless producer, has added Yuan 500/tonne to its purchase price of high-carbon FeCr for June, lifting this to Yuan