SHANGHAI, Dec. 9 (CBI China) -- Port insiders said that recently chrome ore enquiry increased, most from ferrochrome producers, but the transaction has not improved.
According to CBI, although the chromium ore port was livelier, the actual downstream demand has not improved. The majority of manufacturers believe that ferrochrome prices have been almost bottomed out, so their enquiry was lower than market prices. On the other hand, with the exception of a small number of chrome ore traders accepted the price of buyers as they were eager to ship, the majority of traders were still reluctant to sell due to low prices. Therefore, the recent closing price and trading volume were not really improved.
According to the latest news, in Zhanjiang port, prices for 42% South Africa powder has been as low as RMB 30/mt; in Shanghai port, this kind of chromium ore also offer RMB 35/mt. Domestic chrome ore market is unlikely to improve in the short term.
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