Chinese chrome ore prices edge up
2024-03-20 08:34:16 [Print]
BEIJING (Asian Metal) 20 Mar 24 – Most chrome ore sellers lifted prices of chrome ore as prices of ferrochrome increased this week. The current mainstream prices of South African chrome concentrate 40%min stand at RMB59.5-60.5/dmtu (USD8.25-8.39/dmtu) in Tianjin port, up by about RMB1.0/dmtu from early last week. Despite most sellers have intention to increase prices of chrome ore further this week, most buyers hold back from purchasing presently. Therefore, insiders predict that the mainstream prices of Chinese South African chrome ore prices would keep firm within this week.
A trader from Jiangsu noted that they quoted RMB61/dmtu (USD8.5/dmtu) in Tianjin port for South African chrome concentrate 40%min early this week and could accept RMB60.5/dmtu (USD8.39/dmtu) for firm bids, while they refused prices less than RMB59.5/dmtu (USD8.25/dmtu) early last week. "We sell about 5,000t of South African chrome concentrate 40%min at RMB60.5/dmtu (USD8.39/dmtu) early this week and sell about 5,000t at RMB59.5/dmtu (USD8.25/dmtu) early last week", said the trader, who predicts that the mainstream prices of Chinese South African chrome ore would keep firm within this week.
The trader, with a regular monthly trading volume about 60,000t of chrome ore, would sell about 20,000t in March, almost identical to last month. They hold about 2,000t of stocks at the moment, down by about 10,000t from late last month.
Another trader in Tianjin disclosed that they offered RMB63/dmtu (USD8.74/dmtu) in Tianjin port for South African chrome concentrate 40%min without any concessions early this week, but they could accept prices no less than RMB59.5/dmtu (USD8.25/dmtu) early last week. "We are negotiating with a client about an order of almost 30,000t at the moment, but we have no intention to sell at prices less than RMB63/dmtu (USD8.74/dmtu) presently", said the trader, who sold about 20,000t at RMB59.5/dmtu (USD8.25/dmtu) late last week. Considering that most buyers hold watchful attitudes at the moment, they predict that the mainstream prices of Chinese South African chrome ore would keep firm within this week.
On basis of a regular monthly trading volume about 100,000t of chrome ore, the trader would sell about 80,000t in March, up by about 10,000t from last month. They hold about 30,000t of inventories at the moment.
A trader from Jiangsu noted that they quoted RMB61/dmtu (USD8.5/dmtu) in Tianjin port for South African chrome concentrate 40%min early this week and could accept RMB60.5/dmtu (USD8.39/dmtu) for firm bids, while they refused prices less than RMB59.5/dmtu (USD8.25/dmtu) early last week. "We sell about 5,000t of South African chrome concentrate 40%min at RMB60.5/dmtu (USD8.39/dmtu) early this week and sell about 5,000t at RMB59.5/dmtu (USD8.25/dmtu) early last week", said the trader, who predicts that the mainstream prices of Chinese South African chrome ore would keep firm within this week.
The trader, with a regular monthly trading volume about 60,000t of chrome ore, would sell about 20,000t in March, almost identical to last month. They hold about 2,000t of stocks at the moment, down by about 10,000t from late last month.
Another trader in Tianjin disclosed that they offered RMB63/dmtu (USD8.74/dmtu) in Tianjin port for South African chrome concentrate 40%min without any concessions early this week, but they could accept prices no less than RMB59.5/dmtu (USD8.25/dmtu) early last week. "We are negotiating with a client about an order of almost 30,000t at the moment, but we have no intention to sell at prices less than RMB63/dmtu (USD8.74/dmtu) presently", said the trader, who sold about 20,000t at RMB59.5/dmtu (USD8.25/dmtu) late last week. Considering that most buyers hold watchful attitudes at the moment, they predict that the mainstream prices of Chinese South African chrome ore would keep firm within this week.
On basis of a regular monthly trading volume about 100,000t of chrome ore, the trader would sell about 80,000t in March, up by about 10,000t from last month. They hold about 30,000t of inventories at the moment.
