Seaborne charge chrome ferro-chrome deals concluded at higher prices in the week to December 15 in response to tight availability of material, which ended four weeks of stability, sources said.
Fastmarkets' ferro-chrome, 50% Cr, import, cif main Chinese ports assessment was at $0.72 per lb contained Cr on Tuesday, up by 2 cents or 2.9% from $0.70 per lb the preceding week.
The increase in imported ferro-chrome prices reflects mills' demand for imported material amid tightened domestic supply following a stronger performance in the domestic stainless steel market, Fastmarkets heard.
"Given the rising prices of nickel feedstock and stainless steel, mills, especially small-to-medium sized ones without much supply from the domestic market, are willing to accept higher prices from us," a ferro-chrome producer said.
Additionally, the recovery in the European and American ferro-chrome markets is also reportedly driving the price uptrend, trading sources said.
"The price is about to jump because there's no material available. We've had...