The combination of added supply with the end of the Eskom power deals in South Africa and softer stainless demand amid global economic uncertainties, with the European debt crisis, slowing in China and the US presidential election, and the usual summertime slowing of business activity has created a bit of downward pricing pressure on the high-carbon ferro-chrome market. Prices are flat to slightly down in the USA and Europe and are expected to fall in China as well, Eskom is looking to negotiate further power sellback deals, which may help prices find a floor. Meanwhile, negotiations continue on third-quarter benchmark prices, which we expect to be rolled over from second-quarter levels.
展开▼
