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| Price Of FeCr For Shipments In Q4 / 09 Requires To Rise By More Than 10% |
| = Sitttard CEO / ENRC Referred To The Price |
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At the conference to announce ENRC's settlement of accounts for the second quarter (April - June) of 2009, Mr. Johannes Sittard, who is CEO of ENRC (Eurasian Natural Resources Corporation) as a leading producer of ferro-chrome in Kazakhstan, referred to price of high carbon ferro-chrome for shipments in October - December quarter of 2009 and said that the Company will require to rise the price by 10% at least. This was the first case that producer referred to the price of high carbon ferro-chrome to be shipped in October - December quarter. The world demand for ferro-chrome in the first half of 2009 had been sustained by the activeness of requirements from China but the markets in Europe and the USA, where had been depressed for a long period, have currently shown a signal to move to a revival from autumn of this year. Owing to a substantial reduction in production of ferro-chrome implemented by major producers in South Africa, Kazakhstan, and so on, the measures to balance on supply and demand of ferro-chrome are progressing and, in order to regain a profitability for production of ferro-chrome, producers' side has an opinion to rise again benchmark price of high carbon ferro-chrome (charge chrome) for October - December quarter, following a rise of 20 US-Cents per lb. of Cr settled for July - September quarter. The benchmark prices of South African charge chrome settled for shipments in July - September quarter are 89 US-Cents per lb. of Cr on DDP base for Europe and 97 US-Cents per lb. of Cr CIF for Japan respectively. |
| last modified : Wed 26 Aug, 2009 [10:18] |
