WEEKLY: China’s Cr ore prices stabilize, trading thins
Jun 02, 2020 14:00
See Full-size Table Here
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