PRICING NOTICE: Proposal to increase frequency of assessments of chrome ore inventories at major Chinese ports
Fastmarkets MB proposes to increase the frequency of the assessment for chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai to weekly.
Fastmarkets currently assesses chrome ore inventories at those main Chinese ports on a fortnightly basis.
Since China is the largest consumer of chrome ore globally, making it an important indicator of market fundamentals, chrome ore inventory changes at major Chinese ports have drawn growing attention from suppliers and buyers who require an essential tool to monitor changes in stocks flows of this key steel raw material.
As well, 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.
Fastmarkets considers it crucial to track and update the key indicator more frequently given that market participants have been paying increasing attention to the volatile swings in chrome ore inventory.
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.
Fastmarkets invites market participants to participate in the month-long consultation on the proposal to increase the frequency of its chrome ore inventory assessment to weekly from fortnightly. The consultation for this proposed amendment will end on Wednesday June 19, with changes taking place from Monday June 24.
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 email@example.com. 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 https://www.metalbulletin.com/prices/pricing-methodology.html.