NEW YORK Low-carbon
ferrochrome prices could soften in the near term as European
traders and producers increasingly look to the U.S. market due
to weak prices and demand levels at home.
"Youve got European
traders (who) have material and are putting it into the United
States," one trader said.
Turkish producers are also said
to be stepping up their exports to the U.S. market.
"The European price is low
enough to bring it in from Europe. Turkish material is flowing
over here," one market source said.
Domestic companies are
increasingly buying from producers there, sources said.
"They have about seven companies
buying their chrome," the first trader said.
While a second trader confirmed
that Turkey has become a bigger supplier to the U.S. low-carbon
ferrochrome market, he said that this wouldnt cause
prices to fall in the near term.
"Weve seen an influx of
Turkish material all year, and thats going to continue
for quite some time. Theyve picked up some business with
U.S. trading groups. My opinion is the prices are pretty flat,"
Prices for 0.10-percent
ferrochrome in the domestic market are between $2.08 and $2.10
per pound, while 0.05-percent is between $2.25 and $2.28 per
Meanwhile, prices in Europe for
0.10-percent material are between $1.96 and $2 per pound, while
0.06-percent material is trading between $2.05 and $2.10 per
pound, according to AMM sister publication Metal