Chromium softened slightly
2005-06-24 13:30:44 【Print】
BEIJING (Asian Metal) 24 Jun 05 - Since chromium metal price climbed to a little over USD6,000/t early this Jun, the price seemed to soften slightly recently, market participants reported to Asian Metal.
"We just concluded a batch of the material at a price of around USD5,950/t CIF," said a trader in Central Europe, " We feel the market is softening, because three weeks ago it is hard to get such a price."
Later this May, the trader purchased the material at a similar price. The trader predicted that the price might continue to slide down, as the summer season is coming and lots western buyer will spend their holidays.
According to the source, the Russian origin chrome is at same price range as Chinese ones.
"Some suppliers are quoting USD6,200-6,300/t for chromium metal in Rotterdam warehouse, but buying interests are in great shortage," said the second trader.
"It is a rumor that some major British chromium metal producer sell at prices close to USD7,000/t," the trader said. The trader predicted that, at least in the following two months, it is impossible for the chromium metal price to increase to so high a level. On the contrary, the price may keep softening in the forthcoming weeks, as buyer leave the market.
Since later last year, the chromium metal prices have kept rising, from only around USD4,600/t early last December to as high as around USD6,100/t in China market.
"We just concluded a batch of the material at a price of around USD5,950/t CIF," said a trader in Central Europe, " We feel the market is softening, because three weeks ago it is hard to get such a price."
Later this May, the trader purchased the material at a similar price. The trader predicted that the price might continue to slide down, as the summer season is coming and lots western buyer will spend their holidays.
According to the source, the Russian origin chrome is at same price range as Chinese ones.
"Some suppliers are quoting USD6,200-6,300/t for chromium metal in Rotterdam warehouse, but buying interests are in great shortage," said the second trader.
"It is a rumor that some major British chromium metal producer sell at prices close to USD7,000/t," the trader said. The trader predicted that, at least in the following two months, it is impossible for the chromium metal price to increase to so high a level. On the contrary, the price may keep softening in the forthcoming weeks, as buyer leave the market.
Since later last year, the chromium metal prices have kept rising, from only around USD4,600/t early last December to as high as around USD6,100/t in China market.
