Negotiations In Europe On Price Of FeCr For Shipments In Q3 / 2011 Are Tardy To Settle- European Mills Are Not In A Hurry To Settle, Negotiations May Carry Over To End June

摘要

The negotiations with major stainless steel companies of Europe on price ( benchmark price ) of South African charge chrome for shipments in July - September quarter of 2011 seem to be tardy to settle. The situation is thought to blow a cold wind against ferro-chrome producers. Major stainless steel companies are not in the circumstances to expedite the negotiations on price of charge chrome. One of main raw materials for production of stainless steel is nickel but nickel price had a considerable fall of 7 - 8% in May and is anticipated to weaken further in the near future. Therefore, stainless steel mills are in the direction to reduce their stocks of raw materials ( nickel and chrome ) and this tendency is influencing on the negotiations to slow down.