NEW YORK High-carbon ferrochrome prices have eased slightly as traders continue to lament a lack of spot buying activity in the market.
High-carbon ferrochrome prices dipped slightly on the low end to $1 to $1.05 per pound from $1.01 to $1.05 previously, while 0.05-percent low-carbon ferrochrome remained unchanged at $2.21 to $2.25 per pound.
Despite many traders expectations that ferrochrome pricing will improve over the course of 2013, the absence of high-volume spot purchases has forced some prices down in the interim, traders said.
"All of us are wishing for it, but Europe has quieted down, the Chinese have lowered prices and everything is looking soggy," one trader said.
"Steel capacity utilization has gone down a little bit," a second trader said. "Our regular long-term customers are taking metal as forecast, but there really hasnt been any big spot buying."