According to China’s customs statistics, imports of chrome ore to China during January to October 2011 amounted to 874,619 tonnes, up by 1.4% YoY, taking a small break after the big gain in September. Domestic ore consumption is still stagnant, while ore stocks at the portside exceeded the 3 million tonnes level at the end of October, and continued to rise to 3.39 million tonnes as of November 18th 2011. Price has kept its downtrend since several months ago.
Imports from South Africa and Oman, Albania increased while arrivals from Turkey and Australia were less.
Averaged unit price of the imported ore in September was USD 254.50 per tonne, down 3.2% from September, 5 consecutive month drops. The increased imports from South Africa, Oman and Albania were all lower priced than the preceding month.
Import of ferrochrome in October was 108,290 tonnes, up by 29.7% MoM from 83,489 tonnes in September. Import of high carbon was 108,244 tonnes (up 29.7% from September) and import of medium low carbon was 46 tonnes (only 2 tonnes in September).
(Sourced from TEX Report Limited)