NEW YORK High-carbon
ferrochrome prices have fallen below the $1-per-pound mark for
the first time since early 2010, as sellers reported a dearth
of spot inquiries and fierce competition for existing spot
"There should be 50 inquiries.
Theres not. Theres maybe three," according to one
"The fourth quarter has been
disappointing (so far)," a second trader said, adding that
there is little on the horizon to suggest that business will
pick up before year-end.
The material is now trading
between 99 cents and $1.01 per pound, down from $1 to $1.03 per
pound previously, with truckload business reported at the lower
end of the range this past week.
Prices have fallen steadily
after hitting a high of $1.17 to $1.22 per pound in May as
demand has dropped off, particularly from the stainless
Demand for premium material used
mainly in the foundry sector was still said to be strong.
"Ive got a lot of inquiries for that quality," one