European high-carbon ferro-chrome recovery continues; low liquidity keeps UG2 chrome index flat

The European high-carbon ferro-chrome market cemented its recovery over the past week, with industry sources reporting higher spot prices amid supply worries from South Africa and India, both of which are on multi-week lockdowns.

The low-phosphorous price also ticked up week on week, as did Turkish lumpy chrome ore, while the UG2 index to China remained flat.
Sources attributed the price rises to short-covering activity and warn there could be more price increases if the Covid-19 pandemic is not brought under control.
Fastmarkets assessed the ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe price at $0.83-0.95 per lb on Friday April 3, up three cents on the top end of the range week on week.
The ferro-chrome low phosphorous, min 65% Cr, max 0.015% P, delivered Europe market moved up a cent to $0.91-0.97 per lb on the same day.

Quarantine measures are being ramped up across Europe, while the continent combats the spread of the coronavirus. The restrictions are hindering workers’ ability to run plants and transport material, while...

Published

Declan Conway

Davide Ghilotti

Siyi Liu

April 06, 2020

11:42 GMT

Galway, London, Shanghai