Asian Metal reports that now many Turkish chrome ore suppliers are offering lumpy chrome ore 42% at above USD 300 per tonne CIF CFR China due to the tight supply in such a winter condition. Meanwhile, the Pakistani chrome ore market follows Turkish chrome ore trend with a high price level.
A major producer in Turkey reported to Asian Metal that the chrome ore market is bullish, as they have received many recent enquiries from Chinese buyers. According to the source, he signed contracts with a total quantity of 80,000 tonnes and their price range for lumpy chrome ore 40% to 42% was between USD 315 and USD 325 per tonne CFR China.
He said that "I heard many Turkish chrome ore suppliers increase their offers for lumpy chrome ore 42% to above USD 300 per tonne CFR China due to tight supply in such a special season." He added that as the supply in the following weeks would be tighter and tighter, the price of Turkish chrome ore market is likely to go up further.
A Turkish chrome ore trader offered about USD 300 per tonne CIF China for 2,000 tonnes of lumpy chrome ore 42% to 40% recently.
The trader said that "Although we received many enquiries from Chinese buyers and those buyers ask for USD 10 to USD 15 per tonne lower than our offers, we would rather watch the market than sell our stocks at low prices. I think Chinese buyers will come back to accept our prices in January."
A Pakistani chrome ore trader informed that they offered for 1,000 tonnes of lumpy chrome ore 40% to 42% at about USD 300 per tonne CIF Chinese main ports recently, but there was no deal concluded with Chinese buyers recently.
According to the source, they sold 1,000 tonnes of the material at about USD280 per tonne CIF Shanghai port a week ago. It added that "Now we refuse to sell the material at below USD290 per tonne CIF CMP, as we expect higher chrome ore prices next month, just following Turkish chrome ore market trend."
Source: Steel Guru/Asian Metal
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