The market for Turkish lumpy chrome ore showed signs of strong recovery late last week and, although the market appears to have stalled since then, the uptrend looks set to resume.
Upward momentum started to return to the market after several weeks in which there was little reported trade.Fastmarkets MB's price assessment of Turkish lumpy chrome ore, cfr China, gained $8 to reach $230-240 per lb on Friday October 19. Last week's increase was the strongest since the Turkish lumpy price soared by $15 to $340-345 per lb on March 16, 2018.Suppliers had attempted to reverse the price decline after the market sank to $215-225 per tonne between September 7 and September 14 and failed to make a meaningful recovery for several...