Fastmarkets' UG2 chrome ore price strengthened in China on Friday February 15 ahead of stainless steel production restarts after Lunar New Year, while alloy prices in Europe and the United States fell.
UG2 records modest gainFerro-chrome prices hold in ChinaAlloy prices tick up in Japan, South KoreaAlloy prices weaken in Europe UG2 chrome ore prices edged up in China on Friday on anticipation of stainless steel mills returning to the market to buy raw materials since resuming production after Lunar New Year holiday on February 4-10. Fastmarkets' UG2 chrome ore index, cif China rose $1 to $162 per tonne on Friday. A number of traders raised their offers to as high as $165 per tonne but failed to secure sales since many buyers remain on holiday, sources said. "We offered at $165 yuan per tonne this week. Although no buyers have showed willingness to accept the price so far, we believe they will have to accept in the coming...