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Ferro-chrome: Where's the benchmark?

April 11, 2014 - 15:23 GMT Location: London

KEYWORDS: nickel rally , stainless steel recovery

The European second quarter charge and high carbon ferro-chrome benchmark price settlement is late.

The settlement is negotiated every quarter by a large South African ferro-chrome producer and a large European consumer and has in recent quarters been settled by ferro-chrome producer Glencore Xstrata and Luxembourg-based stainless steel mill Aperam. Once the headline number is settled, consumers individually negotiate discounts which can be anything from 10% to more than 20%, meaning in most deals, the full benchmark price is never actually realised. The benchmark normally takes about two weeks to negotiate but talks this quarter have been going on for about six weeks and no agreement has been reached. The producer is understood...

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