Fastmarkets’ proposal follows initial feedback from market participants that such price assessments would bring useful transparency to the market and support the growing stainless steel market in Indonesia.
Indonesia is an emerging destination for global ferro-chrome resources, with 1.6 million tonnes of ferro-chrome imported in 2022, to meet increasing stainless steel capacity in the nation.
And there is market demand to expand price assessments from subscribers that already reference Fastmarkets’ assessment of ferro-chrome import prices in China, Japan and South Korea.
These proposed prices will be assessed on a cif Indonesia basis and will include materials that will be sold to Indonesia on a spot seaborne market.
The proposed specifications for the Indonesian ferro-chrome import price are as below:
Ferro-chrome 50% Cr import, cif Indonesia, $/lb
Quality: 10-100mm lump. Chrome base 50%, range 48-52%; carbon case 7%, max 9%; silicon base 3%, max 6%; phosphorous max 0.03%; sulphur max 0.06%
Quantity: Min 100 tonnes
Location: cif Indonesian main ports
Timing: Within 6 weeks
Unit: USD per lb
Payment terms: LC/DP
Publication: Fortnightly. Thursday 5-6pm Shanghai time
The consultation period for this proposed price starts on November 29, 2023 and will end on December 29, 2023. The launch will take place, subject to market feedback, on January 11, 2024.
To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to this assessment, please contact Tina Tong by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Tina Tong re: Indonesian ferro-chrome import price assessments.”
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.
