The high-carbon ferro-chrome price spread narrowed to $0.12 per lb after deals were reported that raised the lower end of the assessment.
Deals for around 900 tonnes were reported and included in the latest assessed price range. The low-carbon ferro-chrome price performed similarly, with the spread narrowing to $0.14 per lb in reported deals.
Recent production cuts in ferro-chrome are expected to be the main influence on prices in the coming weeks and months while countries around Europe begin to ease the lockdown restrictions imposed to combat the spread of the Covid-19 virus. Demand from steelmakers, meanwhile, is only expected to return slowly in the very near term, sources told Fastmarkets.
“China's [heavy industry] is doing OK and has the potential to absorb a lot of volumes,” one European supplier said. “Hopefully, we will see [heavy industry in] Europe and the United States coming back soon, and then...