PRICING NOTICE: Amendment of Fastmarkets’ cif Shanghai ferro-chrome index

Fastmarkets will change its cif Shanghai ferro-chrome index to a single-figure price assessment and change the location from Shanghai to main Chinese ports.

After a consultation, Fastmarkets will change the specifications of its ferro-chrome index 50% Cr import, cif Shanghai, $/Ib to an assessment.

Consolidation in the ferro-chrome market means the number of sell-side data sources has fallen since Fastmarkets started its ferro-chrome index in 2012.

Indices – tonnage-weighted average calculations – best work in liquid markets that can reliably contribute sufficiently robust indications to the calculation.

The lower volume of data points in relation to the imported ferro-chrome market in China has made the use of an index less suitable. Low availability of data and the calculation process in an index mean the price is more susceptible to being moved by low volume of trade information than if it was an assessment.

Illiquid markets with a relatively low number of participants are more accurately reflected as an assessment. Therefore, Fastmarkets will from Friday December 6 use an assessment process rather than calculate an index.

A single-figure assessment will be adopted rather than a range because a single price provides simplicity to the market and cohesion for users.

Additionally, Fastmarkets proposes to amend the delivery port from “Shanghai (other ports normalized)” to “Main Chinese ports”. This proposal reflects that Shanghai is not currently a major destination port for imported ferro-chrome in China.

The new specification will be as follows:

Assessment: 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%; sulfur max 0.06%
Quantity: Min 1,000 tonnes minimum
Location: cif main Chinese ports
Timing: Within 6 weeks
Unit: USD per lb
Payment terms: LC at sight
Publication: Weekly. Friday 3pm London time
Notes: Seaborne, all origins.
Data history from May 2012

All historical data relating to this price prior to the amendment will remain available in the pricing section of the Fastmarkets MB website.

A consultation for this proposed amendment began on November 4, with changes taking place from December 6.

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

To see all Fastmarkets’ pricing methodology and specification documents go www.fastmarkets.com/about-us/methodology

What to read next
The purpose of this review is to ensure that the index continues to accurately reflect prevailing market conditions. We welcome feedback from industry participants on potential amendments to the base specification. This consultation, which is open until August 9, 2025 seeks to ensure that our methodologies continue to reflect the physical market under indexation, in […]
Fastmarkets has launched MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonne on July 9 due to an expected increase in Indonesia-origin aluminium exports. MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonneQuality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sowQuantity: Min 500 tonnesLocation: FOB IndonesiaTiming: […]
Information came to light that mill buying offers had been adjusted for July following Fastmarkets’ settlement of these prices on that date, leading to an incorrect published assessment for the following grades: MB-STE-0789 Steel scrap No1 heavy melting, consumer buying price, fob Montreal, Canadian $/net ton was previously published at C$245 ($179.41) per net ton, a C$10 […]
Fastmarkets has corrected its daily AG-PLM-0012 refined bleached deodorised (RBD) palm olein, fob Indonesia price assessment, which was published incorrectly on July 7 due to an input error.
Fastmarkets has had a strong interest in the proposed new assessments and would like to gather additional information on the specification and grades that should assess.  Based on the feedback, the proposed specifications have been updated as follows:  Quality: Selected Nordic (Swedish, Finnish, Norwegian) export grades of both planed and rough sawn timber spruce (whitewood) […]
While Fastmarkets understands that the PIX sawn timber FAS Finland indices have not been widely adopted by the industry, we have received feedback that there is commercial use for the indices. Therefore, we propose to maintain them for the time being.  The following indices are affected:  The extended consultation period for this proposed discontinuation starts […]