European alloy price at lowest since May 2009
Chrome ore prices weaken in China
Domestic and imported alloy prices hold in China
Alloy prices hold in East Asia
US price holds amid inactivity
The European high carbon ferro-chrome dropped to its lowest level in more than a decade on Friday August 16 after suppliers cut offer prices to encourage buying interest.
Fastmarkets’ price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe was assessed at $0.71-0.80 per lb, down from $0.74-0.84 per lb previously.
The market last traded this low in May 2009 when the price was $0.69-0.79 per lb.
Trading activity has been subdued for much of the northern hemisphere’s summer, with consumers in the steel sector taking extended shutdowns or steeper production cuts than usual.
The market may drop further later this month if consumers remain reluctant to buy...