PRICING NOTICE: Amendment to frequency of assessments of chrome ore inventories at major Chinese ports
Fastmarkets MB has decided to increase the frequency of the assessment for chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai to weekly from fortnightly on Monday June 24.
Following a month-long market consultation, Fastmarkets MB received feedback that confirmed it should begin assessing chrome ore inventories at the aforementioned major Chinese ports every Monday. The next publication date is July 1.
Fastmarkets thinks it is crucial to track and update the key indicator more frequently, given that market participants have been paying more attention to the volatile swings in chrome ore inventory levels.
China is the largest global consumer of chrome ore, making it an important indicator of market fundamentals, so chrome ore inventory changes at major Chinese ports have drawn growing attention from suppliers and buyers that require a tool to monitor any changes in stocks flows for the key steel raw material.
Additionally, it is widely acknowledged in the market that changes in port inventories could have an influence on overall sentiment and even play a role in determining the price trend.
Therefore, this chrome ore port inventory assessment, together with Fastmarkets MB’s existing chrome ore South Africa UG2 concentrate index and chrome ore cfr main Chinese ports Turkish lumpy price assessment, will provide market participants with a comprehensive picture of the chrome ore market in China.
To provide feedback on these assessments or if you would like to provide price information by becoming a data submitter to this assessment, please contact Amy Lv by email at firstname.lastname@example.org. Please add the subject heading FAO: Amy Lv, re: China chrome ore inventory assessments.
To see all Fastmarkets MB’s pricing methodology and specification documents, please go to www.metalbulletin.com/prices/pricing-methodology