The European quarterly ferro-chrome benchmark fell 4 cents to $1.04 per lb, its lowest settlement since 2010. It is the first time all year that the benchmark price has moved at all; not a good omen for fourth-quarter conditions.
And it follows gradual weakening in global spot charge and high carbon ferro-chrome prices in recent months.
Metal Bulletin’s high grade manganese
ore index crashed through $3.00 per dmtu on September 18 and now stands at $2.78 per dmtu.
The nobles were also at it.
was trading at $5.35-5.50 per lb on Wednesday, down from $5.55-5.85 per lb.
One trader was so keen to discourage “fire sales” of molybdenum products that he insisted he would defy the cheapest offers...