The standoff on Chinese mills’ charge chrome purchase price for May is dragging on. The Chinese smelters are bidding UG2 at around $155 per mt, which is about $20 lower than what the sellers are offering, while 40-42% concentrate offers are at $185 while buyers want $165. As a result, the mills can’t set a price until the smelters settle their ore prices.
Chinese domestic charge chrome ferrochrome prices (including some Indian material) are around 86-89¢, while European prices are at the $1.10-1.14 and US prices at $1.15-1.195, ddp. In Europe, high-carbon ferrochrome was booked at $1.23, ddp.