NEW YORK Ferrochrome prices have weakened as traders report a notable dearth of spot market demand from consumers.
High-carbon ferrochrome is between $1 and $1.03 per pound compared with $1 to $1.05 previously, while 0.10-percent carbon ferrochrome dropped to a range of $2.02 to $2.07 per pound from $2.06 to $2.08 and 0.15-percent material slid to $1.95 to $2.01 per pound from $1.99 to $2.04.
Traders told AMM that spot market activity continued to be slow, with consumers mostly satisfied with contract business.
"Theres been no additional demand to force people to the spot market, and thats across the board," one trader said.
The presence of 0.13-percent carbon material from DLA Strategic Materials is also continuing to impact the low-carbon ferrochrome market (amm.com, March 29), traders said.
The "0.10-percent (material) is anybodys guess. Its a DLA game, which is why that material is going in the low 2s," a second trader said.