Mills let ferro-chrome producers stew - FERRO-ALLOYS

Ferro-alloys traders report that stainless steel mills are delaying
negotiations for next quarter deliveries of ferro-chrome due to high stock
levels. Although some preliminary talks have begun, mills will delay
signing many contracts until the new year in anticipation that prices will
Producers of ferro-chrome have warned that mills face a backlash if they
try to drive prices down, but steelmakers are still holding out for lower
prices. One trader in London commented that the market is currently “deadly

quiet” and said: “Mills have plenty of stocks and if they need...


December 10, 1998

00:00 GMT

M B NF18