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Q2 Price For Charge Chrome Agreed With One European Mill
= At US¢135/lb Cr; European benchmark yet to be agreed officially =
According to some sources of information in Europe, an agreement was made between a South African ferrochrome producer and a European stainless steel mill on the price to be applied to the shipments during the second calendar quarter of 2012 to be increased by US¢20/lb Cr from the first quarter benchmark price of US¢115/lb Cr ddp.

During the negotiations for the second quarter benchmark, the South African producers were calling for an increase of US¢25 - 35/lb, while the European mills were only prepared to accept US¢15/lb as a maximum increase, delaying settlement beyond the end of March.

Although the US¢20/lb increase agreement was reportedly made, negotiations for the benchmark are still going on between the suppliers and the major Europeans such as Outokumpu or Inoxum (a division of ThyssenKrupp), and so far no announcement has been made on the benchmark by Merafe, a partner in a joint-venture with Xstrata.
last modified : Wed 11 Apr, 2012 [10:47]
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