HONG KONG Europes
second-quarter benchmark price for charge and high-carbon
ferrochrome has settled at $1.27 per pound, up 14.5 cents from
the preceding quarter.
The settlement reflects rising
spot prices in Europe due to tighter supply from South Africa.
Producers there have cut production in order to sell the
conserved power back to state energy group Eskom Holdings SOC
Ltd. (amm.com, March 1).
European high-carbon ferrochrome
is trading at $1.02 to $1.06 per pound on a delivered basis, up
from 97 cents to $1.01 per pound at the start of 2013.
The benchmark is announced every
quarter by Sandton, South Africa-based ferrochrome producer
Merafe Resources Ltd., a joint venture with Xstrata Alloys.
The price is negotiated with a
leading European stainless mill, along with Zug,
Switzerland-based Xstrata Plc and its Baar, Switzerland-based
marketing partner, Glencore International Plc.
A version of this article
was first published by AMM sister publication Metal