NEW YORK Low-carbon ferrochrome prices ticked up slightly this past week with reports of "more interest" on certain grades, although the market for high-carbon material was still reported as relatively quiet.
Prices for 0.15-percent carbon ferrochrome moved up to a range of $1.98 to $2.03 per pound from $1.97 to $2.02 previously, while 0.10-percent carbon ferrochrome tightened to a range of $2.06 to $2.10 per pound from $2.05 to $2.10 previously.
"Theres been more activity on the low-carbon (side)," one trader said. "Weve had more interest in that this week."
The high-carbon market, however, was reported by multiple traders as "slow," with sales continuing to transact in a range of $1 to $1.04 per pound.
"Its been a very quiet week. Chinese New Year might have something to do with it," the first trader said.
While a second trader characterized business as "fine but not spectacular," a third trader described his outlook on ferrochrome pricing as "bullish."
"I think most of these products should go up sometime in the first half of this year, but Im not sure about the timing," he said.