Chrome ore price has been surging, triggered by robust demand from both domestic and overseas markets. Prices have been rocketing for Chrome ore of all grades since Apr with swelling transactions. India, South Africa and Turkey provide limited resources for different reasons. Chrome ore stocks at ports are decreasing.

Many traders are strongly confident in current market operations and give quotations that are much higher than transaction level, in view of tight supply and bloomy demand. Quotation stands at CNY 130 per tonne for 50% Indian friable ore and CNY 128 to CNY 130 per tonne for 42% plus Iranian and Turkish Cr ore. Such high prices are obviously difficult to lead to transactions.

Traders explain that current operation indicates high grade chrome ore price may raise to CNY 130 per tonne in the future, so they are reluctant to sell products at low prices and hold off sales in expectation of future price advances.

(Sourced from MySteel.net)