Chrome alloy prices in China weakened over the past week, taking ore lower with them, following monthly reductions in mills' tender prices.
Alloy spot prices drop in line with tendersOre prices start to weaken Alloy prices in South Korea follow China lowerEuropean alloy prices edge higher Japan and US alloy markets hold Ferro-chrome prices dropped further in China on Friday May 4 after stainless steel mills released lower tender prices for May. Metal Bulletin's latest assessment for China's domestic spot ferro-chrome prices dropped 50 yuan on the low end of their range to 6,850-7,000 yuan ($1,077-1,101) per tonne, on a delivered basis, equivalent to $0.85-0.86 per lb.Major stainless steel mills lowered their tender prices for May, citing abundant imported supply and high chrome ore stocks, which have been reported at more than 3 million tonnes."High inventories of ore in China and higher-than-expected imports data in March [for...