Platts assessed the spot price of high-carbon ferrochrome at 83-84 cents/lb CIF Japan Friday, unchanged from last week on the absence of any deals, offer or bid reported.
Platts assessment is for 10-100 mm lumps with minimum 60% chrome content, 2%-4% silicon, around 8% carbon, 0.02%-0.05% phosphorous and maximum 0.05% sulfur.
While Japanese traders put tradeable level for 60%-chrome lumps at 83-84 cents/lb CIF Japan, two Indian producers said they would offer 85 cents/lb CIF Japan, and would not accept lower bids.
A deal was reported closing for less than 1,000 mt of South African-origin charge chrome lump, at 85-88 cents/lb CIF Japan, May loading.
The material contained around 50% chrome, but details of other chemical content and size were not available.
Another deal was reported done for 80-120 mt of 65%-grade lump at around 102 cents/lb CIF Japan, with the loading time spread out over a period of several months.
The deal was for 10-100 mm lumps with 65%-72% chrome content, maximum 1% silicon, maximum 8% carbon, maximum 0.02% phosphorous, and maximum 0.05% sulfur.
The material origin was unknown.
A Japanese mill was seeking several thousand tons of 50%-55% South African fines sized less than 10 mm, but the deal will be awarded in the second week of May, traders said.
South African power utility Eskom started power shedding programs to cope with power shortage this month, but this had little impact on the market.
South Africa is the largest ferrochrome supplier to Japan.
But the power crisis, which could affect ferrochrome production, has not triggered spot demand as two major Japanese stainless steel plants will close for maintenance in May.
Some buyers start thinking about supplies for June and beyond at this time of the year, but they did not make any moves.
\"There is absolutely no rush, as Japanese mills typically reduce output in the July-September period every year as electricity demand rises during summer,\" said one Japanese trader.
Separately, prices of SUS304 stainless steel scrap (18% chrome, 8% nickel) were at Yen 140-145/kg ($1.16-$1.20) delivered in the Kanto region this week, trade and mill sources said.
One mill source said Yen 140/kg was achievable in the Kanto region but prices in western Japan were Yen 5/kg higher.
A second mill source said he could not buy at Yen 140/kg this week.
Sources all agreed prices were more or less unmoved from last week.
--Mayumi Watanabe, mayumi.watanabe@platts.com
--Edited by Jonathan Fox, jonathan.fox@platts.com
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