Demand for chrome ore remains very weak, as there are very few queries from Chinese buyers these days.
According to the source, some suppliers offer about USD380/t CIF Shanghai port for 1,000t of Indian concentrate chrome ore 48-50%, Si 8%max, but many buyers are not interested in purchasing the material.
“I found international chrome ore market is very sluggish, as most buyers are watching the market,” said Mr Panda, chrome ore trader based at Bhbnashewar.
He predicted that it is possible for the market to go down slightly, but the markdown would be limited. “I expect chrome ore market to recover next month,”
Another trader confirmed the weak demand from Chinese buyers in chrome ore market. According to the source, he got offers of about USD465/t CIF Chinese main ports for 1,000t of Indian concentrate chrome ore 54-56%, Si 5%max these days, but there was no deal concluded with any buyers.
“The shipment will be arranged in late October or early November, but it is difficult for us to sell any materials,” said the source. He added that all contracts will be done through MMTC.
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