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Hopes fade for ferro-chrome benchmark increase
July 24, 2014 - 17:30 GMT
steel-making raw materials
An increase in the third-quarter charge and high-carbon ferro-chrome benchmark is looking less likely as European consumers bemoan the gap between European and Chinese prices, market participants told Metal Bulletin.
The second-quarter ferro-chrome benchmark settled up 4
cents to $1.22 per lb, while spot prices are at $1.05-1.10 per
lb, delivered Europe. The price for South African
charge chrome into China is at 81 cents per lb, cif
Shanghai. The benchmark settlement is negotiated every
quarter by a large South African ferro-chrome producer and a
large European consumer. In recent quarters it has been settled
by ferro-chrome producer Glencore Xstrata and Luxembourg-based
stainless steel mill Aperam. The number is expected to be
announced by next week, possibly even this week. Throughout
this latest round of negotiations, Aperam has been insisting on
a reduction, while Glencore has been asking for a rise. Aperam
opened the discussions asking...
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Euromoney Institutional Investor PLC.
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