NEW YORK High-carbon ferrochrome prices ticked up this past week as traders continued to report material shortages amid stronger demand.
High-carbon ferrochrome moved up to a range of $1 to $1.02 per pound from 97 cents to $1.02 previously, with unconfirmed transactions reported as high as $1.05 per pound for truckload quantities.
Market participants told AMM that spot buyers have begun to emerge seeking fourth-quarter material, but few suppliers were in a position to meet increased spot demand.
"There are a couple of traders looking for 100-ton positions, but we have been very tight and Im not too concerned if I lose business below $1 per pound," one trader said. "Youre looking at just three consistent players right now in ferrochrome, though last month saw DLA ferrochrome being sold to three different players. However, I dont think it will run too much up from $1 per pound."
GfE-MIR AG, Hickman, Williams & Co. and Veritas Alloys & Metals LLC purchased a combined 1,509 short tons of high-carbon ferrochrome from the DLA for $1.8 million in August (amm.com, Sept. 10).