[Ferro-alloys.com] The US high-carbon ferrochrome market was beyond lackluster over the last week. The only activity reported was the DLA sale in August. The DLA sold 1,509 tons of high-carbon ferrochrome under its monthly BOA program. The buyers were GFE-MIR AG, Hickman, Williams & Co., and Veritas Alloys and Metals. The approximate value of the sale was $1.8-million. Despite the high-carbon ferrochrome uptick late last month, values were flat week-on-week at$ 97 to 102 per lb, ex warehouse.

 

There is still mounting pressure from the European market, and prices should rise slightly as buyers enter September negotiations.

 

Nickel prices have brought contention to the stainless steel market. Coupled with new supply contracts in place in the EU and several US traders taking on stock, this is likely an indication of the market sentiment and near-term direction in prices.

 

Low-carbon ferrochrome was bland, at best. While one supplier completed a less-than-truckload sale on 0.5 C materials, there was no other activity reported. One mill was out on RFQ for some low-carbon ferrochrome 0.10 C, but it was unclear where the buyer settled. It was noted that the specific mill has been known to purchase DLA stock (0.11 or 0.13 C). Some market participants remarked that prices may still be too high, but spot transactions of 0.10 C low- carbon ferrochrome were still quite rare, particularly among the country’s largest importers. The DLA sold no low-carbon ferrochrome in its August BOA sale.