UG2 chrome ore market stabilizes as buying activity picks up

Liquidity improved in the UG2 chrome ore market in the week to Friday August 14, with current price levels enticing more buyers to be active in the forwards market, according to market participants.

Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China was stable at $133 per tonne on Friday, after rising by $1 per tonne the previous week.
Trading activity picked up significantly throughout the week and a number of deals were concluded both below, at and above the index level.
"The price is reasonable and we don't expect it to change drastically in the short term so we decided to procure," a buyer said.
Sources told Fastmarkets that more sellers - producers as well as traders - are able and willing to be in the market at present than they were a few weeks ago.

Meanwhile, sellers noted that inquiries from Chinese buyers are increasing, owing to the lower price levels that chrome ore has...

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