The UG2 chrome ore price fell again on Friday April 12 after activity lessened due to market participants waiting for Chinese mills' next ferro-chrome tender releases; meanwhile falling demand pushed down the high-carbon ferro-chrome assessment in Europe.
UG2 and Turkish lumpy ore prices in China drop Domestic alloy price in China weakens Alloy markets in Japan, South Korea, Europe fall Alloy price in Europe stable The UG2 chrome ore index cif China continued to fall last week after some chrome ore traders lowered their offers to encourage buyers to return to a market characterized by sparse inquiries from the country's domestic ferro-chrome smelters. Fastmarkets' UG2 chrome ore index, cif China, dropped by $4 per tonne or 2.2% week on week to $176 per tonne on Friday. The index has fallen by $10 over the past two weeks. It had risen by $24 per tonne or 14.9% over seven consecutive weeks from $161 per tonne on February 8, according to Fastmarkets' historical data. Many Chinese ferro-chrome producers sat on the sidelines of the seaborne and portside ore markets in the expectation of further price falls amid weak...