European FeCr market tightens further, led by low-carbon price surge

The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.

Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17.
"The low-carbon ferro-chrome market is flying," a producer said. "The return to travel [after Covid-19-related restrictions] has led to a recovery in the aerospace sector as well as strong [business for] oil and gas. In combination with the export taxes from China and Russia, [this] meant pricing for low carbon ferro-chrome has continued to strengthen."

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