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Non-mainstream chrome lump export market lackluster

2019-04-18 08:41:46   【Print】
BEIJING (Asian Metal) 18 Apr 19 – Currently, prevailing export prices of Pakistani chrome lump 40-42% decreased by about USD5/t to USD220-230/t CIF China from a week ago, and prevailing export prices of Omani chrome lump 36-38% rested at USD170-180/t CIF China, roughly flat with the previous week.Asian Metal Copyright Another trader from Oman quotes USD170t CIF China for chrome lump 36-38% now, unchanged from the week before.Asian Metal Copyright Export market witnessed very low liquidity amid subdued demand from China over the past week and suppliers had to lower their offers to entice buyers.Asian Metal Copyright The source will move down his price by USD5t to encourage sales in the near term.Asian Metal Copyright It is predicted the prices would further slide in the coming days.

A trader from Pakistan moved down his price of chrome lump 40-42% by USD5/t to USD225/t CIF China from the prior week and sold about 500t at this price early this week. "Chinese buyers bid aggressively and I had to accept more counteroffers to close deals.Asian Metal Copyright Another trader from Oman quotes USD170t CIF China for chrome lump 36-38% now, unchanged from the week before.Asian Metal Copyright People can always find cheaper material from other places in the world, such as South Africa, and Pakistani chrome ore is disadvantageous in the market," said the source, adding as the bearish sentiments in China continues, the prices of chrome ore may further edge down in the coming days.

With a regular trading volume of 1,500tpm, they expect to sell 1,500t in April, unchanged from last month, holding no stock now.

Another trader from Oman quotes USD170/t CIF China for chrome lump 36-38% now, unchanged from the week before. "We usually adjust our prices following the mainstream materials from Turkey and South Africa. We did not sell much in March when the sentiment in China was bullish, and not to mention when the prices are sliding, we could hardly close any deals," said the source, adding their last deal was made at USD175/t for 400t early this month. The source will move down his price by USD5/t to encourage sales in the near term.

With a regular trading volume of 2,000tpm, they sold about 2,000t in March and expect 1,400t in April, holding 1,000t in stock now.
.Asian Metal Copyright It is predicted the prices would further slide in the coming days.Asian Metal Copyright