Surge in Chinese FeCr prices bolsters European market

Tight market conditions in Europe and soaring prices in China buoyed prices in the European ferro-chrome markets in the week to Tuesday July 20, given the likelihood that metal will be attracted to the Chinese country.

Fastmarkets' price assessment for ferro-chrome high carbon 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe narrowed upwards by 4 cents (1.4%) to $1.34-1.55 per lb Cr on July 20 from $1.30-1.55 per lb one week previously.
Accordingly, Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe price assessment also narrowed upwards by 4 cents (1.4%) to $1.34-1.55 per lb Cr on July 20 from $1.30-1.55 per lb a week earlier.
The European market has been supported by surging ferro-chrome price rises in China, which market participants expect to persuade ferro-chrome producers to focus on selling there, drawing attention away from the European market.

The material sold to...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold