Fastmarkets’ price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe
, narrowed upward by 5 cents (+2.4%) to $1.05-1.10 per lb Cr on June 8, from $1.00-1.10 per lb Cr one week earlier.
“There is a scarcity of material and the domestic market is booming,” a ferro-chrome producer in India said.
At the same time, supply has tightened because some Indian ferro-chrome producers have switched to producing manganese alloys, attracted by the better margins.
Producers in India face also high freight rates for exports to the European market.
“Although freight rates are not quite as high as they were, they remain high. Supply...