EtiKrom’s Robert Yildirim is a leader not a follower when it comes to EtiKrom. EtiKrom raised its Chinese high-carbon ferrochrome price to $1.05 to $1.10 per lb after selling around a $1, around 30,000 mt so far this quarter. According to Robert, the US is the cheapest high-carbon market in the world, with prices still below $1. Whether the market, specifically ENRC, will follow is an open question.
Compared to manganese ore prices, however, chrome ore prices are still mired in the mud. This poses the problem: if ore is still cheap relative to the alloy, when will Chinese ferrochrome smelters flood the market using the relatively cheap ore?
Right now, I say let the ferrochrome producers bask in the sunlight. After suffering from years of little or no profits, at least give them a glitter of hope.