Chromium Market Update (June 6, 2012)

Ferrochrome (HC basis Cr 60 percent) delivered in Europe remained steady this week and was trading between $1.22 and $1.27 a pound on June 5, according to data from Metal-Pages. In the United States, it was trading between $1.18 and $1.23 a pound. While prices in Europe in May were above their April level of about $1.18 a pound, in the US they were barely changed from their April level.

Chinese high-carbon ferrochrome prices remained steady this week due to weakening steel mill demand and stable prices for chrome ore, industry sources told Metal Pages, adding that ex-factory prices for high-carbon ferrochrome were in the range of 7,700 yuan to 7,800 yuan a tonne.

“Prices for high carbon ferrochrome are likely to be stable in the near future because demand from steel mills has not improved,” the source said.

Data from Metal-Pages shows that on June 5 Chinese ferrochrome (HC basis Cr 50 percent) was trading down 0.6 percent, between 7,700 yuan and 7,900 yuan a tonne, below the 8,000 yuan level reached in February and March.