[Ferro-alloys.com] Sellers of high-carbon ferrochrome welcomed higher prices in the US as numbers inched up to 99-103cents per lb, up just 1cent since last week. Suppliers reported inter-trade business as high as 101-103cents per lb, giving a likely indication those traders were looking to take a position on material in anticipation of even higher prices. The appreciation is still largely driven by the upward pressure in Europe, which has seen great changes to its supply-base and a slightly more active spot market.

 

TheUS market was still pushing forward with a few RFQs still open. Despite regional differences in demand, Europeans business is progressing with fourth quarter deals being struck for near-term delivery. In the US, the Defense Logistics Agency (DLA), perhaps taking advantage of rising interest in the HC FeCr market, offered 2,215.09 tons of high-carbon and 1,600,000 lb of low-carbon ferrochrome during the September BOA sale. The high-carbon, which is located in Warren, Ohio, was listed among three lots (714.84 tons of 68.66% Cr South African, 822.95 tons of 69.15% Cr domestic, and 677.3 tons of 65.88% Cr Japanese). The DLA indicated that the South African and Japanese lots need to be purchased in their entirety, whereas the minimum bid quantity for the domestic high-carbon ferrochrome is 345.75 tons. In addition, there were two lots of 840,000 lb of low carbon (0.15% C and 66.2% Cr and 0.13% C and 68.77% Cr) at Pt. Pleasant, WV, both of which were also offered and unsold in July and August. The minimum bid quantity is 185,360 lb and 192,556 lb, respectively.