Bearish sentiment and lower bids for chrome ore in China have followed a period of restocking in southern China, while demand in Inner Mongolia remains muted, according to market participants.
Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China fell by $8 (4.4%) to $172 per tonne on Tuesday March 16, from $180 per tonne a week earlier."Buying in the north has been muted, as it has been since January, while ferro-chrome producers in the south largely trimmed their ore demand because they had already procured sufficient amounts...