The European charge and high-carbon ferro-chrome benchmark settlement increased to $1.42 per lb for the second quarter of 2018, which is a rise of 20.3% from the first-quarter settlement of $1.18 per lb.
South Africa's Merafe Resources announced the price to the Johannesburg Stock Exchange on Thursday March 29. Merafe is the joint venture partner with London-listed trader and mining company Glencore in ferro-chrome project Glencore-Merafe Chrome Venture.The price is negotiated every quarter between a leading ferro-chrome producer and a major stainless steel consumer. The two sides of the market are usually represented by Glencore and Aperam respectively. Bulls in controlA strong rise in the benchmark had been anticipated in response to rising costs for ferro-chrome producers. The appreciation of the South African rand and increasing costs for suppliers, such as a rise in energy costs from April, were cited...