High- and low-carbon alloy prices rise in Europe
Imported alloy price in China increases
Domestic alloy price rolled over in China
US alloy market stable.
Prices for high and low carbon (0.10% C) ferro-chrome in Europe ticked up but strongly subdued demand means that a sustained price recovery is unlikely in the short term, according to market participants.
Fastmarkets’ assessment of the price of ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose by 1 cent to $1.62-1.73 per lb on October 4.
“Some producers would prefer to cut production rather than sell at these low prices, so we are selling on the spot market to new customers,” a producer said.
Another producer said that it would stay out of the spot market for 0.10% C ferro-chrome because there was still too much competition and prices were too low.
“There is plenty of material around,” a trader said. “There is a lot of alloy...