Drop in Europe’s high-carbon ferro-chrome demand pressures prices lower, triggers fall in imports

Ferro-chrome volumes imported into Europe fell by around one-third in July 2019 year on year in response to a sharp fall in chrome prices and may have halted softening in prices despite weak demand.

In July 2019 - the most recent month for which data is available - the EU27 countries imported 64,544 tonnes of ferro-chrome with carbon content of more than 4%, down from 93,897 tonnes in July 2018, according to data from Fastmarkets' research team using International Steel Statistics Bureau data.
Imports in July 2019 were the lowest since at least January 2013. And the latest information suggests August’s imports will have been significantly lower.
The lower imports reflected the fall in demand for stainless steel and decline in profits to be won in Europe by producers as prices tumbled. 
Between July 2018 and July 2019, Fastmarkets’ ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, assessment fell 41.9% from an average midpoint of $1.36 per lb to $0.79 per lb.

The sharpest fall in the high-carbon ferro-chrome price came when...

Published

Jon Stibbs

December 20, 2019

16:45 GMT

London

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