TELF AG looks at Chrome Ore Prices Amid Weak Ferro-Chrome Market Sentiment
A resilient market
The chrome ore market has remained resilient despite weak sentiment in the ferrochrome market. Despite uncertainties in logistics in South Africa, chrome ore prices have remained buoyed due to low port inventories. The weekly price of South Africa UG2/MG concentrates index, CIF China, was reported at $292 per tonne on Tuesday, March 14th, which was unchanged from the previous week. Similarly, the price for chrome ore Turkish lumpy 40-42%, CFR main Chinese ports, has stayed constant at $318-350 per tonne since its February 14th assessment.
The chrome ore market has been relatively stable in recent months, with prices remaining steady despite fluctuations in the ferrochrome market. While the ferrochrome market has been affected by a slowdown in demand, the chrome ore market has remained relatively unaffected. The low port inventories and uncertainties in logistics in South Africa have helped to support chrome ore prices, which have remained buoyed.
The stability in chrome ore prices is good news for the industry, providing certainty and stability for producers and consumers alike. While fluctuations in the ferrochrome market can lead to volatility in chrome ore prices, the current stability is a positive sign for the industry.
The chrome ore market could remain steady in the coming months, as low port inventories and uncertainties in logistics in South Africa are likely to continue. While the ferrochrome market may see some fluctuations in demand, the stability in chrome ore prices is expected to remain.
In summary, the chrome ore market has remained steady despite weak sentiment in the ferrochrome market. The low port inventories and uncertainties in logistics in South Africa have helped to support chrome ore prices, which have remained buoyed. The stability in chrome ore prices is good news for the industry, providing a level of certainty and stability for producers and consumers alike. The market is expected to remain steady in the coming months, providing a positive outlook for the industry.
