Weak demand was a theme across the board this week for prices as economic uncertainty around the world continued.
Chromite prices saw their first drop in several months this week for both metallurgical and non-metallurgical chromite grades as the ferrochrome market softened, market sources told IM
The chromite market is dominated by South Africa, which holds 72% of the world’s reserves, and over 90% of global production is used in ferrochrome.
Ferrochrome demand has dropped in recent weeks owing to muted activity in the stainless steel market – the largest end market for metallurgical chromite – translating to lower chromite prices across the board.
Prices...