Chinese chrome ore prices down
2024-04-29 08:12:19 [Print]
BEIJING (Asian Metal) 29 Apr 24 - As most buyers hold back from purchasing at the moment, most sellers decrease prices to promote sales. The current mainstream prices of South African chrome concentrate 40%min stand at RMB58.0-59.0/dmtu (USD7.99-8.13/dmtu) D/P in Tianjin port, down by about RMB0.5/dmtu (USD0.07/dmtu) from early this week. Considering that most market participants would leave the market for holiday, insiders predict that the mainstream prices of Chinese chrome ore would keep stable in the coming week.
A trader in Tianjin notes that they quote RMB58.5/dmtu (USD8.06/dmtu) D/P in Tianjin port for South African chrome concentrate 40%min today and would like to sell at RMB58.2/dmtu (USD8.02/dmtu) for firm bids, while they refused prices less than RMB58.5/dmtu (USD8.06/dmtu) early this week. "We last sold about 5,000t at RMB58.5/dmtu (USD8.06/dmtu) early this week", said the trader, who complains that most buyers hold watchful attitude presently. Given that most market participants would leave the market for holiday, they predict that the mainstream prices of Chinese chrome ore would keep stable in the coming week.
The trader, with a regular monthly sales volume about 5,000t of chrome ore, would sell about 5,000t in April, almost stable from last month. They hold about 5,000t of stocks now.
"We refuse prices lower than RMB59.0/dmtu (USD8.13/dmtu) D/P in Tianjin port for South African chrome concentrate 40%min today, while our best price stood at RMB59.5/dmtu (USD8.2/dmtu) early this week", another trader in Tianjin disclosed. Most buyers hold wait-and-see attitudes at the moment, and they last sold about 2,000t at RMB59.5/dmtu (USD8.2/dmtu) two week ago. They anticipate that the mainstream prices of Chinese chrome ore would keep stable in the coming week as most market participants would leave the market for holiday.
Based on a regular monthly trading volume about 4,000t of chrome ore, the trader would sell about 3,000t in April, down by about 1,000t from last month. They hold about 1,000t of inventories at the moment.
A trader in Tianjin notes that they quote RMB58.5/dmtu (USD8.06/dmtu) D/P in Tianjin port for South African chrome concentrate 40%min today and would like to sell at RMB58.2/dmtu (USD8.02/dmtu) for firm bids, while they refused prices less than RMB58.5/dmtu (USD8.06/dmtu) early this week. "We last sold about 5,000t at RMB58.5/dmtu (USD8.06/dmtu) early this week", said the trader, who complains that most buyers hold watchful attitude presently. Given that most market participants would leave the market for holiday, they predict that the mainstream prices of Chinese chrome ore would keep stable in the coming week.
The trader, with a regular monthly sales volume about 5,000t of chrome ore, would sell about 5,000t in April, almost stable from last month. They hold about 5,000t of stocks now.
"We refuse prices lower than RMB59.0/dmtu (USD8.13/dmtu) D/P in Tianjin port for South African chrome concentrate 40%min today, while our best price stood at RMB59.5/dmtu (USD8.2/dmtu) early this week", another trader in Tianjin disclosed. Most buyers hold wait-and-see attitudes at the moment, and they last sold about 2,000t at RMB59.5/dmtu (USD8.2/dmtu) two week ago. They anticipate that the mainstream prices of Chinese chrome ore would keep stable in the coming week as most market participants would leave the market for holiday.
Based on a regular monthly trading volume about 4,000t of chrome ore, the trader would sell about 3,000t in April, down by about 1,000t from last month. They hold about 1,000t of inventories at the moment.
