NEW YORK High-carbon ferrochrome prices have dipped again as a recent run-up has stalled on a lack of consumer interest early in the year.
High-carbon ferrochrome is dead, one trader said. There are very few end-users out for anything.
Prices are now between 96 cents and $1 per pound from between 96 cents and $1.02 per pound previously, with a significant amount of business reported at the upper end of the range this past week.
A second trader also reported losing inter-trade business below that range, although the sale could not be confirmed.
High-carbon ferrochrome sold as high as 99 cents to $1.02 per pound before the holidays, as a number of South African ferrochrome producers announced production cutbacks (amm.com, Dec. 21
Even then, some sources cautioned against excessive optimism, warning that market fundamentals remained weak.
However, some sources are standing firm on higher price levels, expecting that business will pick up.
Ill take my chances in (the first quarter), one supplier said, adding that he would not sell material at less than $1 per pound.