NEW YORK Low-carbon ferrochrome prices have dropped again, as traders continue to chase sales in a quiet market.
Prices for 0.05-percent carbon ferrochrome dropped to a range of $2.13 to $2.17 per pound from $2.15 to $2.20 and while 0.10-percent-carbon ferrochrome dropped to a range of $1.94 to $1.97 per pound from $1.96 to $2 previously. 0.15-percent-carbon ferrochrome dropped to a range of $1.84 to $1.90 per pound from $1.87 to $1.93.
Market participants again said that weak spot demand for all grades of ferrochrome has forced traders to lower their prices in order to make sales (amm.com, July 12
Business is bad, there are no real enquiries, theres oversupply and prices are down, one trader said. Youre getting to the point now where prices really need to move up a little bit.
One consumer observed that the consistent price drop over the course of 2013 has seemed out of step with the relative stability of the steel market.
The steel market has just kinda stumbled along at the same levels it has been at since last year, it really hasnt changed dramatically up or down, he said. Sure, steel pricing is still weak, but it seems like the ferroalloy market has weakened a lot more than the steel market.