Whilst demand for high carbon ferrochrome has picked up in all regions, the US market has particularly surprised on the upside. In the last month, orders have been coming in from US stainless steel mills as well as speciality steels producers. Demand has exceeded supply, pushing up prices and thus reportedly more producers have started shipping material into the US and are expected to continue to do so. Spot prices for high carbon ferrochrome are in the region of $1.32-1.35/lb, up a few cents on January levels. Low carbon prices have also increased, with 0.1%C material reaching $2.25/lb and 0.05%C ferrochrome being sold for $2.40-2.45/lb. With restocking through the value chain expected to continue in the coming months, traders remain bullish on prices for the rest of Q1.
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