Following a one-month consultation, both the ferro-chrome high-carbon 57-65% Cr, cif dup Japan and ferro-chrome high-carbon 57-65% Cr, cif dup South Korea prices will be assessed and published every other Thursday.
The move has been made in line with the lower spot liquidity witnessed in both regions over the past year.
Fastmarkets selects the frequency of publication of a market after considering the number of data points (deals, bids, offers, deals heard and assessments) that it can reasonably expect to collect on a consistent basis in the selected collection window, to support the price assessment process.
Fastmarkets will continue to track the evolution and progress of Japan and South Korea high-carbon ferro-chrome markets and is committed to increase the frequency of publication of those two assessments should the liquidity improve.
The specifications are laid out below, with proposed price frequency in bold.
Assessment: High-carbon ferro-chrome 57-65% Cr cif Japan, duty-unpaid, $ per lb
Quality: 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: US$ per lb
Payment terms: LC at sight and TT
Publication: Fortnightly. Thursday, 2-3pm London time
Assessment: High-carbon ferro-chrome 57-65% Cr cif South Korea, duty unpaid, $ per lb
Quality: 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: US$ per lb
Payment terms: LC at sight and TT
Publication: Fortnightly. Thursday 2-3pm London time
Historical data related to the two price assessments will continue to be available in the Fastmarkets Price Book.
With the changes taking place on Thursday July 18, prices will be published every two weeks thereafter (August 1, August 15, August 29, and so on).
The publication of these assessments will be subjected to the observance of public holidays in China, South Korea and Japan.
To provide feedback on these changes or if you would like to provide price information by becoming a data submitter to these prices, please contact Nikki Ni by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Nikki Ni, re: High-carbon ferro-chrome Japan/South Korea assessments.’
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/prices/pricing-methodology.html