Recent ferro-chrome price surge in China supports ore market

The chrome ore market for sales into China rose with fresh liquidity being reported in the week ended Tuesday August 3, following strong recent gains in the downstream alloy market.

Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settled at $182 per tonne on August 3, up by 4.6% from $174 per tonne one week earlier.
"With the profit available from ferro-chrome production, it would be easier for producers to accept higher ore prices," a ferro-chrome producer said. "Meanwhile, chrome ore producers in South Africa are holding their prices firm [because of the] increasing costs of freight and high production costs."
Confidence in the alloy market was transferred into demand for ore, according to some market participants.

"The alloy market looks set to remain strong for some time to come, so producers don't want to be low...

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