UG2 chrome ore prices showed signs of improvement for the first time since October due to strengthening currencies in the week ended Friday January 11.
UG2 prices tick up for the first time since OctoberChinese domestic ferro-chrome stalls, charge chrome inches lowerAlloy prices flat in Japan, South KoreaEuropean alloy prices under pressure UG2 chrome ore prices edged higher on Friday due to the stronger yuan and rand offsetting thin buying interest from Chinese ferro-chrome smelters. Fastmarkets' UG2 chrome ore index, cif China, rose $2 to $157 per tonne on Friday. A stronger yuan means Chinese buyers can absorb higher dollar prices without losing out in their own currency, while a stronger rand increases production costs in South Africa, prompting higher offer prices from producers. "The yuan and rand have been strengthening and this has limited any downside in price. Despite the...