Chrome ore and charge chrome import prices rose in China on Friday January 19 amid tight supply after mills failed to secure sufficient alloy supply for their steel-making needs, while domestic prices rose on New Year stockpiling.
Ore and alloy prices continued to propel each other in ChinaFurther price strength predicted amid new round of stockpiling before Lunar New YearJapanese, South Korean prices rise following stronger Chinese, Indian marketsUS market remains stable in subdued spot market China's chrome markets continued to strengthen Metal Bulletin's price quotation for Chinese spot domestic ferro-chrome edged up to 7,700-8,000 yuan ($1,203.32-1,250.21) per tonne on Friday, from 7,600-7,800 yuan per tonne a week earlier. The domestic ferro-chrome price is equivalent to $0.931-0.968 per lb. "Rising prices for chrome ore and other productive components continue to push up production costs of Chinese ferro-chrome," a ferro-chrome trader based in Shanghai said. "Also, production cuts in southern China continue to support higher spot prices." Meanwhile, "transport costs in northern China are being pushed up by cold and snowy weather, which makes delivery more difficult," a ferro-chrome buyer from a stainless...