High-carbon ferrochrome prices have increased as market
participants reported higher spot sales this past week.
Prices climbed to $1
to $1.05 per pound from 99 cents to $1.03 per pound previously,
with transactions for truckload quantities reported at the top
end of the range.
One seller said that
despite recent offering prices near the top of the range,
buyers "jumped" at the chance to purchase material.
He attributed the move
upward to squeezed margins at producers rather than
markedly improved demand.
"Prices had to move up
because producers were losing money," the seller said.
Market sources said in
early October that replacement costs for the material were
moving higher (
amm.com, Oct. 4).
One buyer said he was
happy to have bought material at the higher end of
AMMs range as he felt that prices for most
ferroalloys had bottomed out.
However, a second
seller said his business was still tepid, which might prevent
prices from moving much higher in the short term.
ferrochrome, its mostly small stuff (at the moment)," he
(0.10-percent material) also recently ticked up due to fewer
sales by DLA Strategic Materials (
amm.com, Oct. 25).