Manganese and chrome alloy prices in Europe have risen further, driven by gains in ore prices and strong demand in China.
Silicomanganese prices continued to climb in Europe even though mills were not so active in purchasing and traders said they were unable to source replacement material
S&P Global Platts assessed 65:16 SiMn at Eur1,000-1,200/mt DDP Northwest European mill from Eur850-950/mt.
One European trader said he was not able to find willing sellers of silicomanganese as there was a belief prices would continue to rise. Manganese ore prices also rose on the week, with tight supply giving support to alloy prices.
Ferrochrome prices were also higher, a deal for high carbon 60% chrome 3% silicon material was heard concluded at $1.10/lb DDP. Market sources said there was a shortage of sellers and buyers were keen to close deals.
Offers for Kazakh grade high carbon 65% material were heard at $1.20/lb in Rotterdam.
Platts assessed HC 65% FeCr at $1.07-$1.15/lb from $0.95-$1.03/lb DDP Northwest Europe and charge chrome at $0.90-$1.00/lb from $0.85-$0.95/lb.
