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|S. African Charge Chrome Price for Europe in Jan-Mar Down by US Cents 12|
On December 9, Merafe Resources Limited, South Africa, a joint venture partner for Glencore -Merafe Chrome Venture announced on its home page that the benchmark price of South African charge chrome meant for Europe for shipments from January to March in 2016 was settled at US Cents 92.0 per lb. |
This price is down by US Cents 12 from the prior period (down by 11.5% from the prior period), and such price cut range is for the first time since the price in the period from July to September in 2013 was down by US Cents 14.5, which was due to a reaction to the price hike in the period from April to June being US Cents 14.5, whereas this time's price cut is a significant cut after the price continued tapering down. The market participants analyze this is due to a continuing drop in the price of South African charge chrome meant for China.
Albeit this time's price negotiation in Europe was said to start from December 7, it came to an agreement in an extremely short time.
For a reference, the transition of recent benchmark prices meant for Europe is <> During January to March in 2014: US Cents 118.0 (up by US Cents 5.5 from the prior period), <> During April to June: US Cents 122.0 (up by US Cents 4.0 ditto), <> During July to September : US Cents 119.0 (down by US Cents 3.0 ditto), <> During October to December: US Cents 115.0 (down by US Cents 4.0 ditto), <> During January to March in 2015: US Cents 108.0 (down by US Cents 7.0 ditto), <> During April to June: US Cents 108.0 ( unchanged ditto). <> During July to September: US Cents 108.0 (unchanged ditto) and <> During October to December: US Cents 104.0 (down by US Cents 4.0 ditto).
|last modified : Tue 15 Dec, 2015 [10:17]|