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Aggressive Purchases Of Chrome Ores By China Have Caused To Rise Its Prices
= Eti Krom / Turkey Has Contracted With China On 140,000 Tons Of Chrome Ore
The domestic market of ferro-chrome in China has changed considerably in the course of December of 2009. The domestic price (on Cr 50% base) of high carbon ferro-chrome in China has risen to CNY7,700 - 7,800 per ton as of the end of December, which is CNY200 - 300 per ton higher than that prevailed at the beginning of December.

Stainless steel mills in China have had a strong intention to purchase high carbon ferro-chrome and Chinese producers are now offering this ferro-alloy at CNY7,800 - 8,000 per ton for substantial quantities (such as lots of 5,000 - 10,000 tons), corresponding to 87 - 92 US-Cents per lb. of Cr.

Being stimulated by these purchases of ferro-chrome from Chinese steel companies, the inquiries for chrome ore to import into China have turned to be active from December of last year. Eti Krom of Turkey has received the inquiries for chrome ore from China, totalling to 300,000 tons, during the middle of December of 2009 to the first week of January of 2010 and concluded the contracts with Chinese customers on 140,000 tons of chrome ore for shipments in January - March quarter of 2010, detail of which will be made up by February of 2010.

Eti Krom already expressed in the middle of December to rise price of chrome re for export and, according to their schedule, price of Turkish lumpy chrome ore with Cr2O3 = 42% base is risen to <> US$310 - 320 per metric ton FOB for January 2010 shipment and <> US$330 - 340 per metric ton FOB for February 2010 shipment. The prices of Turkish chrome ore (lumpy ore with Cr2O3 = 42% base) contracted by Eti Krom with Chinese customers on 140,000 tons are in the range of US$315 - 325 per metric ton FOB.

For a reference, Eti Krom announced on the 4th of January that, by taking into accounts of an increase of inland transportation charges and seasonal factors in winter time, the Company has to revise and rise further their price of chrome ore for export to <> US$340 - 350 per metric ton FOB for February shipment and <> US$360 - 370 per metric ton FOB for March shipment.
last modified : Tue 12 Jan, 2010 [10:03]
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