At OMC’s auction today around 54% of the total quantity of 35,100t was booked at a price close to the base price. The high-grade (+54%) lots received the highest bids at 5% over the base price. Market participants believe that ferro chrome prices will soon trend upward with the resumption of Chinese demand post-Winter Olympics. South African UG2 chrome ore prices are at around $200/t (INR 15,000/t) CIF China.
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