The expectation for higher tender prices for ferro-chrome in April supported the prices for ore in China and for alloy in Japan and South Korea, Fastmarkets heard on Monday March 18.
UG2 and Turkish lumpy ore prices riseDomestic alloy price climbs in ChinaAlloy prices in Europe, Japan, South Korea increaseImported alloy prices stable in US, China. Prices for chrome ore imported into China and in China's domestic ferro-chrome market rose in the week ended March 15 because some smelter operators bought material before the release of April's ferro-chrome tender prices by major stainless steel mills.Fastmarkets' UG2 chrome ore index, cif China, went up by $1 per tonne or 0.5% week on week to $184 per tonne on March 15. The index has shown an increase of $29 per tonne or 18.7% since the beginning of the year.The price of Turkish lumpy ore also rose last week when increased demand for UG2 ore over recent weeks crossed over into the market for imported Turkish material.Fastmarkets' assessment of the price for Turkish chrome ore, lumpy, cfr...