The Chromium Ore Prices Are Rising.

As of Tuesday, the South African UG2/MG concentrate index (China CIF) for Chrome Ore was $283/MT, slightly higher than the $281/MT recorded on January 9. The index has maintained stability since December 19, 2023, despite fluctuations throughout most of the previous year. The market experienced volatility due to issues such as currency depreciation against the US dollar and ongoing supply shortages.
A seller source mentioned on Tuesday that an increase in inquiries from smelters over the past week has boosted the confidence of Chrome Ore suppliers. "Demand is increasing, and supply remains constant. It's a very simple condition for a price increase," said the seller source.
The weekly assessment of Chrome Ore inventory at major ports in Tianjin, Qinzhou, Lianyungang, and Shanghai ranged from 2.54 million to 2.85 million MT, showing a slight increase compared to the previous week. Additionally, recently arrived Chrome Ore at Chinese ports has mostly been contracted with smelters, keeping commercial supply limited and providing fundamental support to the shipping market.
Another seller source noted that prices are still within recent ranges, with little indication of downward movement. "The market is stable, demand is strong, and there seems to be no reason for prices to deviate from the current range," stated the second seller source.
This week, prices for lumpy chrome ore from Turkey started to rise, with reports indicating increased quotations. The ongoing tension in the Red Sea and the resulting supply chain disruptions have begun to impact prices, although low liquidity continues to limit the extent of the price increase. A buyer source mentioned, "Our suppliers notified us that our latest shipment of Turkish ore might have to be delayed."
The weekly assessment price for Turkish lumpy chrome ore (40-42%, CFR China main ports) increased slightly from $305-330/MT on January 9 to $310-335/MT. The price has been stable within the range of $305-330/MT since December 27, 2023.
For more information or price trends please contact HAINAN WEST ASIA GROUP CO.,LTD 

Request a Quote

We receive enquiries in English, Español (Spanish), Français (French) and العربية (Arabic).Our professional team will reply to you within one business day.Please feel free to contact us!