The weekly assessment by S&P Global Platts of 58%-60% Cr high-carbon ferrochrome was made at 89-92 cents/lb CIF China, up from 88-90 cents/lb last week.
Charge chrome with 48%-52% chrome content was unchanged at 89-91 cents/lb CIF China.
An Indian producer reported an offer this week at 92-93 cents/lb CIF China, for 10-150 mm lumps high-carbon ferrochrome with 58% chrome, 8%-9% carbon, maximum 0.035%-0.04% phosphorous, max 0.05% sulfur, Jan-Feb loading.
A trade was reported on Tuesday at 92 cents/lb CIF China for 2,000 mt, Jan-Feb loading from India to Chinese steelmakers.
"The deal was negotiated last week, but the transaction was done on Tuesday. Inquiries are there. We have sold out till February 10," a producer said.
Another producer said its indicative offer was at 90 cents/lb.
Most Chinese trading houses were still planning reserve stocks for the Chinese New Year, sources said.
"South African sellers are still on vacations. There might be a lot of purchasing activities from the middle to end of January," a Chinese trader said.
Meanwhile in Japan, the high-carbon ferrochrome market was inactive due to a holiday lull -- the Japanese market was closed from December 29 to January 4 and will also be closed on January 8 due to public holidays.
"Japan is very quiet. I heard someone offered 98 cents/lb for Indian ferrochrome, but not verified," a trader said.
Another trader said his indicative bid was at 96 cents/lb CIF Japan and he thought the counterparty's indicative offer was at 97-99 cents/lb.
Platts assessed 60%-65% Cr high-carbon ferrochrome at 93-95 cents/lb CIF Japan, unchanged from last week, as no firm deals, bids or offers were reported this week.
A South African tailings dam which collapsed at Hernic on December 29 might lead to a decrease in chrome ore production, sources said, adding the effect might be minor as Hernic has been placed under a business rescue by Mitsubishi Corp. Hernic would not comment.
"Hernic tailings dam collapsing is not so serious," a market source said.
UG2 chromite, a byproduct of platinum, is used by Chinese ferrochrome producers as feedstock. South Africa and Turkey cover around 70%-75% of China's chromite demand,according to a market report published by Yildirim Group.
South African 42% Cr UG2 chromite concentrate was last offered at $200-205/mt on Tuesday. Platts does not assess UG2.
"The rand has appreciated over the holiday period, which gives support to UG2 prices and makes it very difficult for South African producers," a producer said.
"I think the UG2 price will maintain its current level at $200-$205/mt [CIF China]. There may be inadequate spot stock at major ports," a Chinese trader said.
