China: Chrome Ore Inventory at Ports Continues to Rise
According to statistics, the port inventory of chrome ore in this week is 3.299 MnT, which is 99,000 MT more than that on October 18 which was 3.2 million tons. (unpacked containers and those in bonded warehouses at Tianjin port not counted).
At the situation stands, large scale Ferro- Alloys plants import on their own and spot purchase is mainly for replenishing stock in small batches while small-medium sized plants go for spot purchase with hesitation due to decline in ferrochrome retail price and the yet to be released tender prices, buying spot cargo to sustain only for one week. Those reasons have led to slow-paced outbound delivery from port and stock keep building up at main ports.
source: SteelMint
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