The market for UG2 chrome ore in China fell in the week ended Tuesday December 1 after stainless steel mill Tsingshan lowered its ferro-chrome tender price for December delivery.
Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, fell for the fourth consecutive week to $131 per tonne on Tuesday, down by $2 per tonne (1.5%) from $133 per tonne the preceding week. The index has declined by $8 per tonne (5.8%) since November 3."A lot of miners are holding stock and the buyers are pushing the market down," a trader said. "Some...