Town's rivals offered a player swap deal for Lowe which was slammed by boss Gary Peters. He said the 'deal' was not worthy of the word and dismissed it out of hand.
Chester made the offer after being impressed by Lowe earlier in the season. They acted because he is currently not on the Town teamsheet and his contract expires at the end of the season.
It is rumoured that the swapee would be Andy Harris who has made 13 appearances this term in the Chester midfield.
By rejecting the bid, Peters has signalled his faith in scouser Lowe and backed hime to make his mark on the side this season.
Meanwhile, Town could be missing Duane Darby and skipper Darren Tinson for the trip to Grimsby on Saturday.