South African chrome ore prices keep firm in Chinese
2024-03-07 08:27:22 [Print]
BEIJING (Asian Metal) 7 Mar 24 – Despite most buyers purchased from hand to mouth, most sellers kept prices of South African chrome concentarte firm supported by high quotation from overseas this week. The current mainstream prices of South African chrome concentrate 40%min keep firm at RMB57.5-58.5/dmtu (USD7.96-8.10/dmtu) at Tianjin port in the past week. Insiders predict that the mainstream prices of South African chrome concentrate in Chinese market would keep firm in the coming week.
"We sold about 3,000t of chrome concentrate 40%min Cr/Fe1.3min at RMB58/dmtu (USD8.03/dmtu) at Tianjin port early this week, while we quoted at RMB58.5/dmtu (USD8.10/dmtu) this week, stable from early last week", a trader from Tianjin noted and adding that most of other suppliers quoted USD300/t CIF China for chrome concentrate 40%min this week, up by about USD5/t from last week. They prefer to trade from back to back considering that most buyers hold watchful attitudes at the moment. They predict that the mainstream prices of South African chrome concentrate in Chinese market would keep firm in the coming week.
The trader, with a regular monthly sales volume about 3,000t of chrome concentrate, would sell about 3,000t in March, they did not close any deals in February. They hold no stocks at the moment.
A consumer in Liaoning noted that the quotation for chrome concentrate 40%min they received this week stood at RMB59/dmtu (USD8.17/dmtu) at Tianjin port early this week, stable from last week, but they could purchase at RMB58.5/dmtu (USD8.10/dmtu) for firm bids according to their experience. "We did not purchase recently after placed an order for 500t of chrome concentrate 40%min Cr/Fe1.45min at RMB58/dmtu (USD8.03/dmtu) early in February", said the consumer, who anticipates that the mainstream prices of South African chrome concentrate in Chinese market would keep firm in the coming week considering that most buyers have intention to keep prices firm.
The consumer, with an annual consumption capacity of 24,000t of chrome concentrate, would consume about 2,000t in March, stable from last month. They hold about 500t of stocks presently.
"We sold about 3,000t of chrome concentrate 40%min Cr/Fe1.3min at RMB58/dmtu (USD8.03/dmtu) at Tianjin port early this week, while we quoted at RMB58.5/dmtu (USD8.10/dmtu) this week, stable from early last week", a trader from Tianjin noted and adding that most of other suppliers quoted USD300/t CIF China for chrome concentrate 40%min this week, up by about USD5/t from last week. They prefer to trade from back to back considering that most buyers hold watchful attitudes at the moment. They predict that the mainstream prices of South African chrome concentrate in Chinese market would keep firm in the coming week.
The trader, with a regular monthly sales volume about 3,000t of chrome concentrate, would sell about 3,000t in March, they did not close any deals in February. They hold no stocks at the moment.
A consumer in Liaoning noted that the quotation for chrome concentrate 40%min they received this week stood at RMB59/dmtu (USD8.17/dmtu) at Tianjin port early this week, stable from last week, but they could purchase at RMB58.5/dmtu (USD8.10/dmtu) for firm bids according to their experience. "We did not purchase recently after placed an order for 500t of chrome concentrate 40%min Cr/Fe1.45min at RMB58/dmtu (USD8.03/dmtu) early in February", said the consumer, who anticipates that the mainstream prices of South African chrome concentrate in Chinese market would keep firm in the coming week considering that most buyers have intention to keep prices firm.
The consumer, with an annual consumption capacity of 24,000t of chrome concentrate, would consume about 2,000t in March, stable from last month. They hold about 500t of stocks presently.
