NEW YORK Prices for low-carbon ferrochrome (0.10-percent grade) have risen in the U.S. market as DLA Strategic Materials has sold little of the material over the past few months.
"I see strength in the price of low-carbon ferrochrome 0.10(-percent), perhaps because the DLA hasnt been selling for a while," one trader said.
A supplier source agreed. "The DLA did not sell any low-carbon ferrochrome in August and announced they will not sell any in October. This has squeezed the markets," he said.
Prices have risen to a range of $1.97 to $2.01 per pound from $1.95 to $1.99 previously, the first increase since early August, with transactions for truckload quantities reported across the range and unconfirmed sales as high as $2.04 per pound.
Fort Belvoir, Va.-based DLA suspended all sales for October as it implements a new Web-based sales system (amm.com, Oct. 1).