Robust demand continued to support the high- and low-carbon ferro-chrome markets in Europe in the week ended Tuesday May 25.
Fastmarkets' price assessment for
ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe, narrowed upward by 3 cents (+1.1%) to $1.23-1.50 per lb Cr on Tuesday, from $1.20-1.50 per lb Cr a week earlier.
The market was supported by strength in the stainless-steel sector leading to shortages in the market, with consumers ramping-up their requirements.
"We have never been so stretched before. There is extremely strong demand," a producer said.
Prices have been supported since the EU announced that it would impose
import duties on materials from Indonesian and Indian stainless-steel producers.
This was expected to support Europe's domestic stainless-steel production and to spur increased demand for feedstock.
"We have seen...