The European second-quarter ferro-chrome benchmark is likely to rise around 14% in comparison to the first-quarter settlement, according to the average predictions made by market participants polled by Metal Bulletin.
The predictions were made ahead of the release of the new benchmark.Merafe Resources is expected to reveal the second-quarter settlement to the Johannesburg Stock Exchange on Friday March 23. Merafe is the joint venture partner with London-listed trader and mining company Glencore in ferro-chrome project Glencore-Merafe Chrome Venture.Market participants' predictions for the settlement were in a range of $1.25-1.45 per lb. The $0.20 per lb spread illustrates the...