Demand for feedstock from consumers and traders also rose, sources said.
Fastmarkets’ price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe
gained 2-6 cents (or 4.4%) to $0.90-0.98 per lb Cr on January 19, up from $0.88-0.92 per lb Cr on January 12.
The availability of Indian material has dried up in Europe after suppliers focused on the domestic market in India and a surge in demand in China sent prices soaring
In terms of volumes, India would usually be the largest source of 60-64.9% grade chrome ore with a maximum silicon content of 3% in Europe.
“There is a crisis in supply in the Indian ferro-chrome market - domestic prices...