Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries.
Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply US ferro-chrome price firms Chrome ore and ferro-chrome prices softened on Friday November 2 due to deteriorating sentiment following the announcement of lower alloy tender prices from leading mills. Fastmarkets' UG2 chrome ore index, cif China, dropped $3 per tonne to $169 per tonne on Friday. "We did not conclude any deals [last] week and we did not even offer because the prevailing prices are a bit low for us," a chrome ore trader told Fastmarkets. Chrome ore inventories at major ports rose to around 2.91 million tonnes in the week ended November 2 from 2.82 million tonnes the week prior, due to thin buying interest from domestic smelters, Fastmarkets understands. Fastmarkets' price quotation for Chinese spot domestic ferro-chrome dropped...