South Africa's proposal to impose an export tax on UG2 chrome ore has revived sentiment and halted a slump in prices, while ferro-chrome markets held steady ahead of the release of November tenders, sources said on this week.
News of the proposed export tax saw Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settle at $136 per tonne on Tuesday, up by $1 per tonne from $135 per tonne in the preceding week when the price fell by $4 per tonne, or 2.9%."We are...