NEW YORK High-carbon ferrochrome prices have picked up as consumer business increased this past week and replacement costs are on the rise.
Prices are now between 96 cents and $1.03 per pound, up from 96 cents to $1 previously, with significant consumer business reported at the lower end of the range and truckload quantities sold to consumers at the higher end.
A consumer sale of four truckloads was also reported at 98 cents per pound, while intertrade business for truckloads was concluded at around $1 per pound, according to sources.
The rise comes as some large domestic suppliers are tightening up their prices, raising replacement costs for traders.
"If I go out and look for chrome today, the best price is $1.01 (per pound). The people who have chrome are very limited," one trader said. "I could maybe see it rise up to $1.05 to 1.07 (per pound)."