The European benchmark ferro-chrome price rolled over at $1.08 per lb from the second quarter to the third quarter, after the latest round of quarterly negotiations between a leading South African ferro-chrome producer and a major European steel mill.
The Japanese benchmark price rolled over at $1.16 per lb for the second quarter but has not been settled for the third.
Neither reference reflects actual spot prices because after the benchmarks are settled, ferro-chrome producers and their customer negotiate discounts, which have grown as wide as 30% in recent years. Alongside the main negotiations, other producers and consumers have more informal talks to agree their own prices or discounts to the main benchmark.
Today, globally, the regions' spot ferro-chrome...