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The prices involved are: MB-FEC-0004 Ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, $/lb Cr MB-CHO-0002 Chrome ore Turkish lumpy 40-42%, cfr main Chinese ports, $/tonne MB-FEC-0011 Ferro-chrome 50% Cr import, cif main Chinese ports, $/Ib contained Cr MB-CHO-0003 Chrome ore South Africa UG2 concentrates index basis 42%, cif China, $/tonne MB-FEC-0003 Ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, $/lb Cr MB-FEC-0002 Ferro-chrome low carbon, 65% Cr, max 0.06% C, delivered Europe, $/lb Cr MB-FEC-0001 Ferro-chrome low phosphorous, min 65% Cr, max 0.015% P, delivered Europe, $/lb MB-FEC-0019 Ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, $/Ib.
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 are proposed to the specifications at this time.
The proposed amendments to the price specifications are as follows, with changes highlighted in bold:
Assessment: 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
Assessment: 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
Assessment: 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
Index: 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)
Indicator: 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.
Assessment 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
Assessment 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
Assessment 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
The consultation period for this proposed amendment starts on Friday July 7 and ends on August 7, with changes taking place, subject to market feedback, as follows:
To provide feedback on this proposal 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.