NEW YORK High-carbon
ferrochrome prices have risen slightly on a marginal increase
in demand, although traders said that low-carbon ferrochrome
transactions were still being done at relatively small
High-carbon ferrochrome has
moved up to a range of $1.01 to $1.05 per pound from $1 to
$1.04 previously, while 0.15-percent-carbon material has
increased to $2 to $2.05 per pound from $1.98 to $2.03.
One trader who reported
transactions at higher numbers said that he believed inventory
tightness was a factor in the price rise. "I dont think
many people have chrome," he said. "The underlying feeling is
that overall chrome pricing will strengthen; its just a
matter of time."
However, many traders said the
ferrochrome spot market continued to be relatively quiet, with
major consumers requirements satisfied by contract
"Its small spot stuff: a
truck here, a truck there," a second trader said.
"Everyones mostly been covered for the first quarter.
Theres no one with really significant needs."
"The long-term contracts were
well thought-out," a third trader said.