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|S. African Charge Cr Price for Japan Also Is Settled down by US Cents 14.5|
|=US Cents 120.5/lb for Jul-Sept shipments, down by 11% from prior quarter=|
The negotiation on the benchmark price of South African charge chrome meant for Japan for July - September shipments has been settled at US Cents 120.5 per lb. This price represents a decrease of US Cents 14.5 (10.7%) versus the prior quarter.|
At the moment, the comparatively high electricity price for the winter season has been applied, and as buy-back of electricity by Eskom was over, the ferro-chrome producers have resumed production and the supply amount is showing a recovery trend. However, as the consumption in the period from July to September will decrease in Europe, the balance between demand and supply is anticipated to be in oversupply. Besides, now South African Rand has become weak against US Dollar, which led to this time's price negotiation having many accounts for price cut.
Consequently, the benchmark price for the period from July to September was lowered by the same range as that for price hike for the previous quarter (April - June) when the price rose due to production curtailment accruing from the buy-back of electricity, and returned to the same level as that for the quarter before last (January to March).
The change in benchmark prices from 2012 was <> January - March: US Cents 123 (down by US Cents 5 from the prior quarter), <> April - June: US Cents 143 (up by US Cents 20 ditto), <> July - September: US Cents 133 (down by US Cents 10 ditto), <> October - December: US Cents 118 (down by US Cents 15 ditto), <> January - March in 2013 : US Cents 120.5 (up by US Cents 2.5 ditto), <> April - June: US Cents 135 (up by US Cents 14.5 ditto) and <> July - September: US Cents 120.5 (down by US Cents 14.5 ditto).
|last modified : Fri 12 Jul, 2013 [13:25]|