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|Price Of South African Charge Chrome For Q1 / 08 Is Settled By Rise Of 21 US-Cents Per Lb.|
|= Reached Agreement With Nippon Steel & Sumikin Stainless Steel On This Rise|
In consequence of the long negotiations with steel companies of Japan on price of South African charge chrome for shipments in the first quarter ( January - March ) of 2008 taken place from December of last year, the price has been settled by a rise of 21 US-Cents per lb., which Nippon Steel & Sumikin Stainless Steel, as a major consumer of this ferro-alloy in Japan, notified the media concerned on the 23rd of January.|
Therefore, the benchmark price of South African charge chrome for January - March quarter of 2008 has come to 129 US-Cents per lb. CIF Japan. In order to cope with the cost inflation in South Africa and to maintain the structure for a stable supply of charge chrome from South Africa. this rise of the price has been agreed by Japanese side. This new benchmark price has renewed the highest one in its history.
In particular, from the second half of last year, a storm of cost inflation, including risen electric power fee, raised wages, increased charges of inland transportation, soared ocean freight and strengthened exchange rate of South African Rand against US-Dollar, has howled frightfully in South Africa.
Also, in view of the facts that the stocks of ferro-chrome at stainless steel mills in Europe have come down to a low level and the production of stainless steel in Europe is expected to recover soon, European mills had a strong intention to finish their purchases of raw materials in an early time and already agreed to a rise of 21 US-Cents per lb. at the stage of December of last year.
|last modified : Tue 29 Jan, 2008 [10:17]|