The recent hikes in prices of chrome and manganese ores have caused waves and this week manganese alloy prices hit an eight-year high in the European market.
Other bulk alloys were affected with spot high-carbon ferro-chrome rising above $1/lb ddp Europe for the first time in more than two years and ferro-silicon trading above €1,000/t for the first time in 12 months. A rise in energy costs in China and during the dry season in Brazil and South Africa is constraining production, and this is feeding into the rally.
Manganese alloy producers are also pushing prices higher ahead of first quarter price negotiations due to begin next month and on expectation of capacity cutbacks in manganese alloys. The ferro-chrome industry is also looking to first quarter benchmark pricing, while the onset of winter weather will interrupt chrome mining in Turkey and Kazakhstan.
Activity across metal markets has shifted in recent weeks from spot deals to long-term contract settlements. Producers and traders have been busy meeting with customers and talking about next year’s pricing.
But on the home stretch to the New Year, the focus is now …
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Source: Metal Pages
WEEK IN REVIEW: Alloys on the high seas
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