China ferrochrome bids out of sync with S. Africa supply
Mar 08, 2013 | 05:00 PM
| Janie Davies
LONDON Chinese stainless steel mills have slashed their March purchase prices for ferrochrome, as South African producers negotiate further power-related cutbacks and insist they have no spot material to offer.
Chinese mills wont pay more than 90 cents per pound for ferrochrome, they said March 8.
South African producers have been accustomed to prices of around 97 cents per pound and are in talks to sell more power back to state energy group Eskom Holdings SOC Ltd. They say they cant cut their offers because they dont have the spot material, and that they soon will not have the electricity.
However, a drop in the charge chrome index of AMM sister publication Metal Bulletin to 94 cents per pound c.i.f. Shanghai on March 8, down 3 cents from March 1 levels, suggests there is some compromise.....
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