Europe's high carbon ferro-chrome market dropped by over 4% to its lowest level in more than ten years amid weak demand, while the UG2 chrome ore index fell on aggressive bidding.
European alloy price at lowest since May 2009 Chrome ore prices weaken in China Domestic and imported alloy prices hold in China Alloy prices hold in East Asia US price holds amid inactivity The European high carbon ferro-chrome dropped to its lowest level in more than a decade on Friday August 16 after suppliers cut offer prices to encourage buying interest. Fastmarkets' price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe was assessed at $0.71-0.80 per lb, down from $0.74-0.84 per lb previously. The market last traded this low in May 2009 when the price was $0.69-0.79 per lb. Trading activity has been subdued for much of the northern hemisphere's summer, with consumers in the steel sector taking extended shutdowns or steeper production cuts than usual. The market may drop further later this month if consumers remain reluctant to buy...