SÃO PAULO, Brazil — Brazilian ferroalloys producer Ferbasa has announced an increase in high-carbon ferrochrome prices to $1.12 per pound for the first quarter of 2013.

This is a 2.2-percent rise from prices in the fourth quarter of 2012.

The benchmark European price for the product stood at $1.10 per pound of chrome for shipments in the October to December period, according to Ferbasa.

"The new price will serve as basis for negotiation with our clients," Ferbasa said.

Ferbasa noted that the rise in first-quarter prices follows a weaker fourth quarter, when prices fell 12 percent from third-quarter prices. 

A version of this article was first published by AMM sister publication Metal Bulletin.