Ferro-alloy prices showed the first signs of reacting to tensions between Russia and Ukraine after an escalation on Tuesday February 22 that prompted the UK government to impose sanctions on five Russian banks and three oligarchs.
Ferro-chrome and ferro-vanadium market participants reported an increase in inquiries for material, while ferro-chrome prices marginally edged up.
Fastmarkets’ assessment of the price of ferro-chrome high carbon 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe edged up slightly in the week to Tuesday February 22, to $1.77-2.02 per lb from $1.76-2.02 per lb.
Ferro-Alloy Resources Limited (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.
