Fastmarkets will continue to publish its ferro-chrome benchmark indicator for Europe

Fastmarkets confirmed on Thursday May 23 that it will continue to publish its weekly ferro-chrome benchmark indicator for Europe, after the discontinuation of the European official industry ferro-chrome benchmark pricing system.

The continuation of Fastmarkets’ indicator, which has a nine-year history of strong correlation with the European industry benchmark, will provide stability and consistency at a time of change in the ferro-chrome market.

Fastmarkets’ calculation of its MB-FEC-0019 ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, will continue to be published weekly on Tuesdays by 15:00 London time.

Merafe Resources, a leading ferro-chrome producer, said on May 20 that it would cease publishing the quarterly benchmark price for ferro-chrome with effect from June this year.

The indicator is calculated using Fastmarkets’ weekly price assessments for ferro-chrome 50% Cr, import, cif main Chinese ports, and ferro-chrome, high carbon, 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe.

The specification of the price is:

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

This price is part of the Fastmarkets ores & alloys physical prices package.

This industry benchmark currently appears on Fastmarkets’ dashboard as below:
MB-FEC-0016 ferro-chrome lumpy Cr charge quarterly, basis 52% Cr (and high carbon), delivered Europe

To provide feedback on this price and Fastmarkets’ ferro-chrome pricing in general, or if you would like to provide price information by becoming a data submitter to these prices, please contact Claire Patel-Campbell by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Claire Patel-Campbell, re: European ferro-chrome pricing.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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

What to read next
The death knell sounded on Monday May 20 for the quarterly European ferro-chrome benchmark, bringing with it the end of a long-running, divisive, often disputed, yet highly influential and important pricing mechanism.
European ferro-chrome market faces uncertainty after discontinuation of quarterly benchmark pricing system
The European quarterly ferro-chrome benchmark lost relevance over time and was canceled after a thorough review, Merafe Resources told Fastmarkets on Tuesday May 21
The quarterly European ferro-chrome benchmark price will be discontinued with effect from June this year, Merafe Resources said on Monday May 20
Fastmarkets launched its first price assessment for MB-FEC-0024 Ferro-chrome 50% Cr, delivered Europe, $/lb Cr on Tuesday March 26.
Fastmarkets has amended the publication date of the latest European charge and high-carbon ferro-chrome benchmark to reflect the date from which the benchmark applies after the price was erroneously published on the date it was announced (March 25).