European ferro-chrome prices rose strongly in the week to Tuesday January 19, with China and other destinations drawing in material than would normally be destined for Europe.
Demand for feedstock from consumers and traders also rose, sources said.
Fastmarkets' price assessment for
ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe gained 2-6 cents (or 4.4%) to $0.90-0.98 per lb Cr on January 19, up from $0.88-0.92 per lb Cr on January 12.
The availability of Indian material has dried up in Europe after suppliers focused on the domestic market in India and
a surge in demand in China sent prices soaring.
In terms of volumes, India would usually be the largest source of 60-64.9% grade chrome ore with a maximum silicon content of 3% in Europe.
"There is a crisis in supply in the Indian ferro-chrome market - domestic prices...