As of mid-September, demand and pricing for high-carbon ferro-chrome had not yet experienced its usual post-summer bump, although the market appears to be slowly finding a floor. MBR expects that the recent strength in nickel pricing will propel the global stainless steel market higher. Increased demand from global stainless and specialty steel markets will help to establish a floor for ferro-chrome spot prices. We, however, believe that the European charge chrome benchmark price will fall $0.05-0.lu/lb in the fourth quarter with supply continuing to outstrip demand.
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