Manganese and chrome alloy prices in Europe saw signs of consolidation after weeks of rising on the back of tight ore supply and strong demand from China, sources said.
Offers for silicomanganese were being made at Eur1,200/mt ($1,275/mt) DDP Northwest mill but mills were not keen on the higher prices.
A European trader said mills would be coming back into the market week until the second week in December. "This will be the test whether higher prices are real."
S&P Global Platts assessed 65:16 SiMn at Eur1,080-1,200/mt DDP Northwest European mill from Eur1,020-1,200/mt.
Ferrochrome prices were also higher.A deal for high carbon 65% chrome 1.5% silicon material was heard concluded at $1.15/lb DDP. Market sources said they were expecting first-quarter contract prices, settled between South African ferrochrome producers and steel mills, to see at least a 30 cents/lb increase.
Offers for Kazakh grade high carbon 65% material were heard at $1.18/lb and $1.20/lb in Rotterdam.
Platts assessed HC 65% FeCr at $1.10-$1.20/lb from $1.07-$1.15/lb DDP Northwest Europe and charge chrome at $0.96-$1.00/lb.
