According to preliminary custom data, South Africa Chrome Ore export witnessed a marginal decline of 9% to 0.75 MnT in May’17 as compared to the previous month. In Apr’17 the South African Chrome Ore exports stood at around 0.82 MnT.
China Chrome Ore Imports
China remains the largest importer of South African Chrome ore which imported 0.39 MnT in May’17, followed by Mozambique and UAE.
On M-o-M basis, China witnessed a substantial decrease of 20% in its South African Chrome Ore imports in May’17 against 0.49 MnT in Apr’17.
Global Chrome Ore Scenario
Chrome Ore prices are expected to rebound soon with improvement in demand for Ferro Chrome in Chinese Market. Moreover, revision of purchasing price by major Chinese stainless steel firms would determine the stability in prices of Ferro Chrome and Chrome Ore.
Sources reported to SteelMint that South Africa 42% UG2 chrome ore deals were concluded at USD 160-165/MT CIF China.
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