Quotations of chrome ore imports on the up for China

SteelOrbis Shanghai With the improving quality of China's steel products, the development and output of high value-added varieties have also seen a rapid increase, leading to a great demand for chrome ore in China. Optimistic about Chinese market consumption, the foreign chrome ore suppliers are gradually pushing up their chrome ore quotations for the period ahead. Certain reliable sources have reported that a Turkish supplier again sharply hiked the CIF prices of chrome ore with a shipping date in March or April 2007. CIF container prices of 42-percent base chrome lump ore at China's major ports reached $200-220/mt, while the price for smaller cargoes reached $230-245/mt. Quotations of 44-percent and 46-percent base chrome lump ore were at $250-260/mt and $270-280/mt respectively. Furthermore, domestic mills also think that the chrome ore prices are likely to go up in the near future, and with this in mind were very active making purchases recently. This in turn boosted up the confidence of the foreign suppliers, thus contributing to the increase in quotations.