Bulk alloys ‘bloodbath’ as prices unwind further
July 01, 2013 – 15:05 GMT Location: London
European bulk alloys prices suffered fresh shocks on Friday June 28, as prices fell sharply amid protracted poor spot demand, weaker local currencies and desperate selling before the European summer.
Chrome and manganese alloys have been chalking up new multi-year lows for weeks, despite producer complaints over several months that prices are below production costs. “For high carbon ferro-chrome, 96 cents is a good average for the high; it’s a bloodbath. And silico-manganese, that’s another bloodbath,” one bulk alloys supplier said. High carbon ferro-chrome is at its lowest level since December 2009, trading at 90-96 cents per lb, down from 92-98 cents on June 21.