China's inventory of chromium ore to decrease this week

The total port inventory of chromium ore in China stands at 3.508 million metric tons on January 30, a decrease of 188,000 metric tons week-on-week. Among this, South African chromium ore inventory accounts for 80% of the total at 2.807 million metric tons, down 1% week-on-week. Inventory of Turkish chromium ore is 39,000 metric tons and that of Zimbabwean chromium ore is 146,000 metric tons. Recent market demand has performed well with declining inventories, and chromium ore prices are expected to run steadily with a bullish bias in the short term.
Tianjin Port’s chromium ore inventory totals 2.831 million metric tons, a drop of 154,000 metric tons from the previous week. South African chromium ore inventory at Tianjin Port is 2.214 million metric tons, making up 78% of the port’s total inventory and falling 1% week-on-week.
Currently, the futures transaction price of South African chromium concentrate with 40-42% grade is 297 US dollars per metric ton.