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After a market consultation and further deliberation, Fastmarkets has decided to tighten the chemistry specifications for chrome to “Cr: 57% min 65% max” from “Cr: 60% min” previously.
Likewise for silicon content, Fastmarkets has amended the specifications for both price assessments to “Si 2% min, 4% max” from “Si 3-4% max” previously.
Previously, the chemical specifications of the two price assessments stated all data points will be considered for material with a minimum chrome content of 60% and a maximum silicon content of 3-4%.
The amendment of the chemistry specifications aims to clarify the basis of Fastmarkets’ high-carbon ferro-chrome prices for Japan and South Korea, and to tie their chrome and silicon chemistry specifications with mainstream material traded in the spot market.
In addition, by tightening such chemistry specifications, it will help to avoid the potential for price spreads widening as a result of including types of material that diverge in price.
The new specifications are laid out below, with amendments in bold.
Assessment: High-carbon ferro-chrome 57-65% Cr cif Japan, duty-unpaid, $ per lb Dimensions: lump; Cr: 57% min 65% max, C: 6% min 9% max, Si: 2% min 4% max, P: 0.04% max, S: 0.05% max; size 10-50mm Quantity: min 100 tonnes Location: Cif Japan Unit: USD per lb Payment terms: LC at sight and TT Publication: Weekly. Thursday between 2pm and 3pm London time Notes: Assessed range
Assessment: High-carbon ferro-chrome 57-65% Cr cif South Korea, duty unpaid, $ per lb Dimensions: lump; Cr: 57% min 65% max, C: 6% min 9% max, Si: 2% min 4% max, P: 0.04% max, S: 0.05% max; size 10-50mm Quantity: min 100 tonnes Location: Cif South Korea Unit: USD per lb Payment terms: LC at sight and TT Publication: Weekly. Thursday between 2pm and 3pm London time Notes: Assessed range
Historical data related to the two price assessments will continue to be available on the Fastmarkets price book.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Karen Ng by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Karen Ng, re: High-carbon ferro-chrome Japan/South Korea import 8-9% C, Cr 57% max 65%, cif
To see all Fastmarkets’s pricing methodology and specification documents go to https://www.fastmarkets.com/prices/pricing-methodology.html