Fastmarkets will change the publication day of its European and seaborne price assessments, indices and indicators covering chrome ore and ferro-chrome to Tuesday, from Friday.

The prices involved are: 

After a consultation period that ran from Friday July 7 to August 7, changes will take place as follows: 

  • The weekly prices above will continue to be published every Friday until Friday August 14 and will then be published every Tuesday starting from Tuesday August 18. 
  • The fortnightly prices above will continue to be published on alternate Fridays until Friday August 7, and will then switch to every other Tuesday starting from Tuesday August 18.

A move to Tuesday pricing will increase the available resources for collecting data and bring the chrome pricing in line with chromite pricing.

No other changes will be made to the specifications at this time.

The amendments to the price specifications will be as follows, with changes highlighted in bold: 

MB-FEC-0004 - Ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, $/lb Cr
Quality: Lump. Cr 60-70%, C 6-8.5%, Si 1.5%.
High-carbon ferro-chrome of the following brands and origins: Kazakhstan (Kazchrome); Russia (Tikhvin, Chelyabinsk); Turkey (Eti Krom); Sweden (Vargon Alloys); Albania (Albchrome)
Quantity: Min 24 tonnes
Location: Delivered consumer works Europe
Unit: USD per lb of chrome contained
Payment terms: 30 days, other payment terms normalized
Publication: Weekly. Tuesday between 2pm and 3pm London time 

MB-CHO-0002 - Chrome ore Turkish lumpy 40- 42%, cfr main Chinese ports, $/tonne
Quantity: 1,000 tonnes
Quality: Lump. Cr 40-42; Silica 15% max; Alumina 16% max; MgO 26% max; S 0.02%; P 0.01%; chrome-iron ratio 2.6:1 (2.5:1 min)
Location: cfr China main ports
Unit: USD per tonne
Payment terms: Payment at sight
Publication: Weekly. Tuesday between 2pm and 3pm London time 

MB-FEC-0011 - Ferro-chrome 50% Cr import, cif main Chinese ports, $/Ib contained Cr
Quality: 10-100mm lump. Chrome base 50%, range 48-52%; carbon base 7%, max 9%; silicon base 3%, max 6%; phosphorous max 0.03%; sulphur max 0.06%.
Quantity: Min 1,000 tonnes Location: cif main Chinese ports
Timing: Within 6 weeks
Unit: USD per lb
Payment terms LC at sight
Publication: Weekly. Tuesday between 2pm and 3pm London time
Notes: Seaborne, all origins. Data history from May 2012

MB-CHO-0003 - Chrome ore South Africa UG2 concentrates index basis 42%, cif China, $/tonne
Quality: Up to 1mm (95% min). Cr base 42%, range 40-43%; Silica max 6%; Alumina max 18%; MgO max 0.15%; P max 0.01%; S max 0.01%; chrome-iron ratio 1.2:1 min
Quantity: Min 2,000 tonnes
Location: cif China
Unit: USD per tonne
Payment terms: Payment at sight
Publication: Weekly. Tuesday between 2pm and 3pm London time
Notes: Bulk (container deals normalized)

MB-FEC-0019 - Ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, $/ Ib
Quality: Ferro-chrome lumpy, basis 52% chrome content
Unit: US cents per lb of chrome content to major European destinations
Publication: Weekly. Tuesday between 2pm and 3pm London time
Notes: The price indicates a representative level for the European ferro-chrome benchmark if it were to be settled on that Friday. It does so by using a proprietary Fastmarkets formula based on the historical relationship between the European ferro-chrome benchmark and Fastmarkets market data. 

MB-FEC-0002 - Ferro-chrome low carbon, 65% Cr, max 0.06% C, delivered Europe, $/ lb Cr
Quality: Lump. Cr 65% basis (range 60-70% Cr), C 0.06% max, Si 1.5% max, P 0.05% max, S 0.05% max
Quantity: Min 25 tonnes
Location: Delivered consumer works Europe
Unit: USD per lb of chrome contained
Payment terms: 30 days, other payment terms normalized
Publication: Fortnightly. Tuesday between 2pm and 3pm London time 

MB-FEC-0003 - Ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, $/lb Cr
Quality: Lump. Cr 65% basis (range 65-70% Cr), C 0.10% excluding material up to 0.06% C, Si 1.5% max, P 0.05% max, S 0.05% max
Quantity: Min 25 tonnes
Location: Delivered consumer works Europe
Unit: USD per lb of chrome contained
Payment terms: 30 days, other payment terms normalized
Publication: Fortnightly. Tuesday between 2pm and 3pm London time

MB-FEC-0001 - Ferro-chrome low phosphorous, min 65% Cr, max 0.015% P, delivered Europe, $/lb
Quality: Lump. Cr 65% min, Si 1% max, C 6-8%, P 0.015% max, Ti 0.05%
Quantity: Min 25 tonnes
Location: Delivered consumer works Europe
Unit: USD per lb of chrome contained
Payment terms: 30 days, other payment terms normalized
Publication: Fortnightly. Tuesday between 2pm and 3pm London time

To provide feedback on this or if you would like to provide price information by becoming a data submitter, please contact Jon Stibbs by email at pricing@fastmarkets.com. Please add the subject heading: ‘FAO: Jon Stibbs: chrome pricing.’

To see all of Fastmarkets’ pricing methodology and specification documents, please go to https://www.fastmarkets.com/about-us/methodology.