Chinese Cr ore prices up but…..

With UG2 prices up slightly, about $5, to around $200 per mt, Turkish miners plan to raise their 48% Cr concentrate price to $300-305. Complicating the move is the continued cutback in Chinese ferrochrome production which could mean even a larger build up of stocks.

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(1) How could Ore prices even go up now? Piles of stock lying unused and unmoved in China. Not that it’s time for SA to consume more Ore. A few weeks ago Turkey was unable to sell even at US$280-285/MT. There must be some new dynamics. (2) Wondering at such historical high Ore build-up in China, if the Ore prices are still going up, what would happen when Ore stocks start to come down. (3) Just observed, when Glencore set the European Benchmark of US$ 1.42 / lb for Q2, whatever prices that were quoting in China, India, and Korea… Read more »