PRICING NOTICE: Proposal to amend timing of Fastmarkets’ ferro-chrome benchmark indicator and ferro-chrome cif China price

Fastmarkets proposes to amend the publication timing of its ferro-chrome benchmark indicator and its ferro-chrome cif China price.

For its ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe and ferro-chrome 50% Cr import, cif main Chinese ports price assessment, Fastmarkets proposes changing the publication time.
The proposed specifications would be (proposed changes in bold):
MB-FEC-0019 Ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, $/ Ib
Quality: Ferro-chrome lumpy, basis 52% chrome content Unit: US cents per lb of chrome content to major European destinations
Publication: Weekly. Tuesday 2-3pm London time
Notes: The price indicates a representative level for the European ferro-chrome benchmark if it were to be settled on that Friday. It does so by using a proprietary Fastmarkets formula based on the historical relationship between the European ferro-chrome benchmark and Fastmarkets market data.
MB-FEC-0011 Ferro-chrome 50% Cr import, cif main Chinese ports, $/Ib contained Cr
Quality: 10-100mm lump. Chrome base 50%, range 48-52%; carbon base 7%, max 9%; silicon base 3%, max 6%; phosphorous max 0.03%; sulphur max 0.06%.
Quantity: Min 1,000 tonnes
Location: cif main Chinese ports
Timing: Within 6 weeks
Unit: USD per lb
Payment terms: LC at sight
Publication: Weekly. Tuesday 2-3pm London time
Notes: Seaborne, all origins. Data history from May 2012
The current specifications are as follows (proposed items to change in bold):
MB-FEC-0019 Ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, $/ Ib
Quality: Ferro-chrome lumpy, basis 52% chrome content Unit: US cents per lb of chrome content to major European destinations
Publication: Weekly. Tuesday 3pm London time
Notes: The price indicates a representative level for the European ferro-chrome benchmark if it were to be settled on that Friday. It does so by using a proprietary Fastmarkets formula based on the historical relationship between the European ferro-chrome benchmark and Fastmarkets market data.
MB-FEC-0011 Ferro-chrome 50% Cr import, cif main Chinese ports, $/Ib contained Cr
Quality: 10-100mm lump. Chrome base 50%, range 48-52%; carbon base 7%, max 9%; silicon base 3%, max 6%; phosphorous max 0.03%; sulphur max 0.06%.
Quantity: Min 1,000 tonnes
Location: cif main Chinese ports
Timing: Within 6 weeks
Unit: USD per lb
Payment terms LC at sight
Publication: Weekly. Tuesday 3pm London time
Notes: Seaborne, all origins. Data history from May 2012
The changing of the publication time would bring this assessment in line other metals, ores and alloys assessments.
The consultation period for this proposed amendment will end one month from the date of this pricing notice, on September 28. Changes will take place, subject to market feedback, from November 5.
To provide feedback on these indices or if you would like to provide price information by becoming a data submitter to these indices, please contact Jon Stibbs or Siyi Liu by email at pricing@fastmarkets.com.
Please add the subject heading 'FAO: Jon Stibbs, Siyi Liu re: amendment to benchmark/ferro-chrome assessment.'
To see all Fastmarkets’ pricing methodology and specification documents go to www.fastmarkets.com/about-us/methodology.

Jon Stibbs

jon.stibbs@fastmarkets.com

Published

Jon Stibbs

September 27, 2021

17:41 GMT

London