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WEEKLY: China’s Cr ore prices stabilize, trading thins

The price of South Africa-origin 42% grade chrome ore at North China’s Tianjin port, stayed unchanged over the week at its 13-month high of Yuan 33.5/dmtu ($4.7/dmtu) as of May 29, as China’s domestic ferrochrome (FeCr) smelters were cautious in procuring high-priced raw material, according to Mysteel’s latest weekly survey over May 25-29.
“Most of the Chinese FeCr smelters had been consuming their in-house stocks, which was bought earlier at lower prices, and the few buyers are only taking in as much as their need,”a Tianjin-based trader shared his observation. There is no need for rush either, as the inventories of imported chrome ore

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