Price Movements of Chrome Ore and Ferro Chrome Today

Price Movements of Chrome Ore and Ferro Chrome Today

Today, the price of future cargoes for South African chrome ore ROM (Run of Mine) dropped by USD 10/ton CIF China, while Pakistan's chrome ore lumpy fell by USD 5/ton CIF China. The decline in South African ROM is steeper compared to Chrome ore concentrate, yet large-scale transactions remain limited.

In China's domestic market, spot transactions of South African ROM chrome ore are facing significant resistance. Traders are struggling to find motivation for future cargo procurement due to unstable ROM quality and strong price suppression by factories. As a result, ROM market prices are more chaotic than those of chrome ore concentrate. Additionally, traders' ROM inventories are more scattered than those of South African concentrate, making it easier for buyers to inquire but not necessarily to conclude deals.

Regarding high carbon ferrochrome, prices remained unchanged today. As the month draws to a close, the market is closely watching updates on chrome-related imports and domestic high carbon ferrochrome production. Moreover, anticipation for the next round of bidding prices from major steel mills has led to a more subdued trading atmosphere, reflecting an ongoing tug-of-war between costs and demand.

Currently, Ferro Chrome prices are hovering around the cost line, with buyers still seeking lower prices. However, suppliers show limited willingness to negotiate or sell at lower levels. So far, there has been no significant increase in transaction volume.