Second-quarter benchmark settlement prices between European stainless steel mills and South African charge chrome producers were announced on April 23. The announcement was delayed, in large part due to the influence of Chinese ferro-chrome spot prices that have been falling despite rising cost pressures. Stainless producers in Europe, already in nominal terms paying a heavy premium for a similar product even after reported discounts, were reluctant to commit to the gains normally associated with the second-quarter contract, when demand is often at its intra-year peak.
展开▼
