This week chrome ore inventory at major Chinese
ports was: Lianyungang 1.39m tons; Tianjin 610,000 tons; Shanghai 49,000 tons;
Zhanjiang over 190,000 tons; Fangchenggang 50,000 tons; other ports over 30,000
tons. The overall inventory was 2.76million tons. The inventories increased
slightly comparing to last week.
Traders intended to make the quotation up but
buyers seemed not to accept the price due to current situation.
In March, China imported a total of
956,754.402 tons of chrome ore, up by 29.318% month on month, main chrome ore
importing countries are South Africa, Turkey and Oman. Inventory was at high
level, which left hidden trouble for future market. The price of chrome ore from
South Africa felt hard to go up due to adequate stocks.
42% South Africa concentrates quoted
RMB28-28.5/mtu at Tianjin port and
RMB29-29.5/mtu at Tianjin port,44% South African Chrome Concentrate quoted RMB
31-31.5/mtu at Lianyungang port, main quotations of 42% Turkish Lump Ore were
RMB 47-48/mtu.50% Indian Chrome Concentrates quoted RMB 51.5-52/mtu at Tianjin
port due to short supply, 32% Omani Lump Ore quoted RMB31-32/mtu at Tianjin
port, all the price above was tax included.
For international market, chrome ore prices
maintained the previous level as 42% South African Chrome quoted USD165-170/mt,
42% Turkish Lump Ore quoted USD260-265mt, 42% Pakistan Lump Ore was
USD258-263/mt, 42% Iranian Lump Ore was USD255-260/mt, and 32%Omani Lump Ore was
USD135-140/mt.
There appeared uptrend in chrome ore market
without positive reactions. Ferrochrome market still ran weakly which made
smelters felt hard to buy the raw material at higher price.
Chrome ore quotation is expected to rise in
short future.