July 25, 2008

Low carbon ferrochrome prices soaring

It is reported that the prices of low carbon ferrochrome have continued their climbing trend due to present situation amid tight supply and soaring raw material costs.

Current import prices of low carbon ferrochrome in Japan have soared to USD 5 per lb to USD 5.1 per LB on CIF basis in the second quarter and European steel makers are reported to have paid USD 5 per lb in April.

As per reports, South Africa’s Samancor's Ferrometal has halted its production due to an explosion in February, as around 5 months are needed for fixing the facilities. Besides, South Africa has cut its electricity supply to the metal industry.