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Print[Ferro-Alloys.com]In recent week, the chrome ores spot trading was deserted, the main reason was the high fund pressure, and the poor market condition of FeCr market. In Aug., the operating rate of FeCr further decreased in China, pulling down the demand for Cr ores spot. In addition, most of the large manufactures also preferred to use the futures resource. Even though the affection on futures market was not as large as the spot market, its fund pressure also increased under the long-term poor market condition of FeCr in China. Some miners had to reduce the selling price slightly to promote the sales.
The prices of spot chrome ore was offered as follows: chrome ore from South Africa with Cr 40-42% at RMB29-32/mtu while Cr 44% at RMB31.5-32.5/mtu and Cr 36-38% lumps at RMB35-36/mtu; Cr 42% lumps from Turkey at RMB49-50/mtu while Cr 46-48% powders at RMB46-47/mtu; Cr 49-50% from Iran at RMB49-50/mtu.
In respect of the future market, prices of the chrome ore were as follows, chrome ore from South Africa with Cr 40-42% powders was USD185-190/mt while Cr 44% at USD195-200/mt(decreasing by USD5/mt) and Cr 36-38% lumps at USD170-175/mt(decreasing by USD5/mt); Cr 42% lumps from Turkey declined to USD275-280/mt while Cr 46-48% powders at USD285-290/mt; Cr 49-50% from Iran decreased to USD255-260/mt; Cr42% lumps from Pakistan at USD275-280/mt; Cr38% lumps from Oman at USD190-200/mt while Cr 32-34% lumps at USD150-155/mt and Cr 30-32% lumps at USD130-135/mt.
In Jul., the import ferrochrome was 137.6thousans tons, decreasing by 1.6% month on month while increasing by 24.6% year on year, which still maintained the high level. Adding to the high production of Chinese FeCr, the total supply seriously exceeded the demand. Therefore, FeCr price might decline further. Under this condition, the South African Cr ores price might be hard to keep firm in recent future along with the increasing supply.
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- [Editor:Juan]
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