Higher chrome ore prices for China
2005-04-12 09:42:52 【Print】
BEIJING (Asian Metal) 12 Apr 05 - Influenced by soaring iron ore and manganese ore prices, suppliers are trying to raise chrome ore prices.
"Australians quote us a price of as high as around USD190/t for 37-38% chrome ore,” an official from a major South China-based ferro-chrome smelter told Asian Metal. “We counter-bid at around USD170/t, but until now, we haven’t received feedback."
According to the source, at the beginning of 2005, the price for Australian origin chrome ore 37-38% was only in a range of USD130-140/t. "The price has increased too much. It is out of our expectation," said the official.
Even though, the smelter is planning to bid close to USD175/t for the material. According to the source, the smelter currently has sufficient chrome ore stock for at least 9 months.
"The price of India origin chrome ore powder, grading 51-52%, increased several dollars recently. Some suppliers quoted us over USD250/t, close to USD260/t, but previously, the price was less than USD250/t," an executive from a major chrome metal smelter told Asian Metal. At present, the chrome price has increased by around USD10/t, according to the source,.
Following the trend, the HC ferro-chrome price in the Chinese domestic market also firmed up a little, around RMB100/t, to currently about RMB7,000/t delivered in buyers' warehouses.
"We raised our HC ferro-chrome price from RMB6,800/t to over RMB6,900/t," said the South China official.
Chrome metal prices have risen to USD5,800-5,850/t FOB CMP. up from USD5,700-5,750/t two weeks ago.
