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South African ChCr Q2 Benchmark For Japan Also Up US$ 0.2/lb
= To US$ 1.43/lb Cr based on tightening supply due to continued low output from South Africa =
The benchmark for South African charge chrome shipped to Japan during the Q2 (April - June) of 2012 was agreed to increase it by US$0.2/lb Cr to US$1.43/lb Cr.

Following the agreement in Europe, Japanese stainless steel mills continued the negotiation but the mills apparently reached a conclusion that they were obliged to accept the same increase as the Europeans had accepted earlier on April 11, because (i) South African producers' operational rate has been 50% or less (some say 40%) of the capacities due to ESKOM's power buyback, (ii) There seems little sign of recovery of output in the near future, as the very high winter power rate is to be applied soon, (iii) other suppliers also want a similar increase, and (iv) stocks in Europe are reportedly becoming thinner.
last modified : Wed 02 May, 2012 [10:32]
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