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Recently, there have been many transactions in the chrome ore futures market, mainly concentrated in South African resources, and the transaction prices have all increased. The transaction price of 44% South Africa's chrome powder is now basically at $340 per ton. The number of inquiries for other varieties is gradually increasing, but downstream customers have a low acceptance of high priced raw materials while the price of ferrochrome has not yet increased, and negotiations are ongoing. The slight increase in shipping costs this week, combined with the upward trend in futures, is expected to result in a stronger short-term chrome ore price.
On February 29th, the trading price of 40-42% chromium concentrate futures for a large mine in South Africa was 292 US dollars per ton to Tianjin Port, an increase of 7 US dollars from the previous transaction. The chromium / iron ratio was 1.3, and the total trading volume was 15,000 tons. The shipping date is the end of April 2024.