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The change takes place from Tuesday July 4, and follows a consultation period that started on Tuesday May 30.
The specifications for the affected prices, with the updated publication time, are as follows:
MB-FEC-0005 – Ferro-chrome contract 6-8% C, basis 50% Cr, ddp China, yuan/ tonneQuality: Lump. Cr 50% min; C 6-8%; Si: 5% max; P 0.04% max; S 0.04% maxQuantity: Min 1,000 tonnesLocation: ddp ChinaUnit: CNY/tonne, normalized to Cr 50%Payment terms: Cash, other payment terms normalizedPublication: Weekly. Tuesday between 5-6pm Shanghai time
MB-FEC-0006 – Ferro-chrome spot 6-8% C, basis 50% Cr, ddp China, yuan/tonneQuality: Lump. Cr 50% min, C 6-8%, Si 5% max, P 0.04% max, S 0.04% maxQuantity: Min 1,000 tonnesLocation: ddp ChinaUnit: CNY/tonne, normalized to Cr 50%Payment terms: Cash, other payment terms normalizedPublication: Weekly. Tuesday between 5-6pm Shanghai time
MB-FEC-0017 – Ferro-chrome high carbon 57-65% Cr, cif dup Japan, $/lbQuality: 10-50mm lump. Cr 57% min, 65% max; C 6% min, 9% max; Si 2% min, 4% max; P 0.04% max; S 0.05% maxQuantity: Min 100 tonnesLocation: cif JapanUnit: USD per lb of chrome containedPayment terms: LC at sight and TTPublication: Every other week. Thursday 5-6pm Shanghai time
MB-FEC-0018 – Ferro-chrome high carbon 57-65% Cr, cif dup South Korea, $/lbQuality: 10-50mm lump. Cr 57% min, 65% max; C 6% min, 9% max; Si 2% min, 4% max; P 0.04% max; S 0.05% maxQuantity: Min 100 tonnesLocation: cif South KoreaUnit: USD per lb of chrome containedPayment terms: LC at sight and TTPublication: Every other week. Thursday 5-6pm Shanghai time
To provide feedback on this amendment or if you would like to provide price information by becoming a data submitter to these assessments, please contact Tina Tong at pricing@fastmarkets.com. Please add the subject heading: “FAO: Tina Tong re: ferro-chrome prices in China, Japan and South Korea.”
To see all of Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/methodology.