Platts revises NWE Ferrochrome Low-Carbon coverage to assess 60%-64.99% chrome and premium 65%-70% Cr content

Following research and market feedback, Platts, part of S&P Global Commodity Insights, has launched a weekly DDP NWE Ferrochrome Low-Carbon 0.10% carbon, 60%-64.99% chrome assessment, and has amended the existing weekly DDP NWE Ferrochrome Low-Carbon 0.10% carbon assessment to reflect 65%-70% chrome content, revised from 60%-70%, effective Feb. 1, 2023.

Platts has also revised volume specifications for the amended low-carbon ferrochrome 65%-70% Cr DDP NWE assessment and moved the assessment publication to a single close value, discontinuing associated high and low price points, with effect from Feb. 1.

This follows a subscriber note published Jan. 5, 2023, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/010523-platts-to-revise-nwe-ferrochrome-low-carbon-coverage-to-assess-60-6499-chrome-and-premium-65-70-cr-content

The changes were first proposed Nov. 4, 2022, in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/110422-platts-proposes-to-revise-nwe-ferrochrome-low-carbon-coverage-to-assess-60-6499-chrome-and-premium-65-70-cr-content

These changes are in response to Platts observation of a clear pricing distinction between low-carbon ferrochrome with 60%-64.99% chrome content and premium low-carbon ferrochrome with 65%-70% chrome content.

Under the changes, the existing low-carbon ferrochrome assessment, under the symbol code MMAIL00, has been amended to 65%-70% Cr content, normalized to 67% Cr content basis.

The new low-carbon ferrochrome assessment, under the symbol code FLCDA00, reflects 60%-64.99% chrome content, normalized to 63% Cr content.

Full specifications are as follows:

Normalization for quality, dimensions, payment terms, and cargo size will reflect current differentials applied in the market, and locational normalization may make use of freight netbacks and freight forwards.

Information on adjacent markets may also be considered in the assessment process.

The new assessment is published alongside the existing assessment in Steel Business Briefing, Steel Markets Daily, Steel Price Report, Platts Metals Daily, via Platts Metals Alert on Page 9065, on Platts Dimensions Pro and in the Platts price database.

Please address any questions or comments to ferrous_emea@spglobal.com and pricegroup@platts.com.

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