NEW YORK High-carbon
ferrochrome prices were steady April 18, but some traders say
the market has the potential to be undercut by lower offers for
material from India.
High-carbon ferrochrome was
unchanged at $1 to $1.03 per pound, although several traders
told AMM that material sourced from India was being
offered at 98 cents per pound.
"There are one or two people
sitting on Indian-grade material and theyre looking to
move it, but 98 cents is not reflective of the market," one
trader said. "Its frustrating to be dictated by those
kinds of offers."
No spot transactions were
confirmed below $1 per pound.
Traders told AMM that
spot business hadnt improved in the ferrochrome market,
but that demand hadnt deteriorated noticeably either.
"It hasnt gotten any worse
and it hasnt gotten any better," a second trader said.
"One day youll have five calls, the next youll have
A third trader said that his
company had fielded a "few small inquiries" but that conditions
were akin to "a feeding frenzy" when consumers emerged for spot
"Ferrochrome is not falling,
its just stagnant," the first trader said. "Theres
no drop in demand to result in a fall in pricing, and no
increase in supply. The DLA (Strategic Materials) is the only
prompt material in this market."
Glencore International Plc and
CCMA LLC paid a total of $1.25 million for a combined 1,000
short tons of high-carbon ferrochrome offered by the DLA in
amm.com, April 8). The DLA offered another 1,000
tons of high-carbon ferrochrome April 16 (
amm.com, April 16).