There was a strong rise in the European market for low-carbon ferro-chrome in the week ended Tuesday August 3, in response to tight supply and the imposition of export taxes in Russia and China.
Fastmarkets' price assessment for
ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $2.17-2.51 per lb Cr on August 3, a rise of 2.4% from $2.10-2.47 per lb Cr one week earlier.
"Offers prices are definitely rising quickly," a consumer said, "and the logistics of moving material remain a nightmare."
The low carbon ferro-chrome market has been supported by Russia imposing a 15% export tax from August 1, and
China doubling its export tax on ferro-chrome to 40% from 20% from August 2.
Changes in Chinese ferro-chrome prices affect availability in the low-carbon ferro-chrome market, although Chinese material does not fall within Fastmarkets' specifications.
Additionally, finding producers...