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The European ferro-chrome price softened slightly to a fresh ten-year low on Friday August 30 in response to continued stiff producer competition.
Fastmarkets’ price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe stood at $0.70-0.80 per lb on August 30, widening downward by 1 cent from $0.71-0.80 per lb a week earlier. The latest assessment marks the lowest since May 2009.
Competitively priced material is available from producers vying for limited volumes of spot liquidity.
“If you want to win business, sometimes you have to be prepared to take a hit,” a producer said.
This has resulted in a buyers’ market in the short...