Subscriber note: Platts to discontinue, add Asian ferrochrome/chrome prices

Platts is proposing to discontinue two Asian price assessments for ferrochrome due to market changes, and to replace them with two new price assessments, effective September 5. The price assessment for High-Carbon 60% Ferrochrome FOB China will be discontinued due to a prolonged lack of export activity and the unlikelihood of future exports. Platts also proposes to discontinue the price assessment for Ferrochrome 50-55% Regular CIF Japan, which is a third-party list price that is not reflective of spot market activity.

Platts proposes to begin publishing a ferrochrome assessment from its sister group SBB, meeting the following specification: High-carbon Ferrochrome 58-60% CIF China -- Weekly price assessment of the repeatable, tradeable spot price for 58-60% Cr high-carbon ferrochrome, with a maximum silicon content of 5%, maximum 8% carbon, 0.04% max phosphorous, 0.05% max sulfur, in lumps, lump size 10-150 mm, all origins. The assessment will reflect a typical order quantity of a minimum 500 mt, delivered CIF main Chinese ports within 60 days from date of transaction, payment terms cash against documents or payment terms letter of credit at sight, packed in 1 mt big bags, or in bulk, and/or in ocean-going, customs-sealed containers at point of export. Assessment made Fridays (or closest business day in the case of holidays), from a survey of producers, traders and end users in the carbon, stainless and specialty steel sectors, reflecting the narrow low-high price range of the majority of spot deals, bids and offers on a cents/lb Cr contained basis.

Platts also proposes to add a new price assessment that meets the following specification: Charge Chrome 48-52% CIF China -- Weekly assessment of the repeatable, tradeable spot price for charge chrome CIF main Chinese ports, with chrome content of 48-52%, normalized to a maximum 9% carbon, max 0.05% sulfur, max 0.04% phosphorus and max 6% silicon, lump size 10-100 mm, all origins. The assessment will reflect a typical order quantity of minimum 500 mt, delivered CIF China within 90 days from the date of transaction, cash against documents or payment terms letter of credit at sight, packed in 1 mt big bags, or in bulk, and/or in ocean-going, customs-sealed containers at point of export. Assessment made Fridays (or closest business day in the case of holidays), from a survey of producers, traders and end users in the carbon, stainless and specialty steel sectors, reflecting the narrow low-high price range of the majority of spot deals, bids and offers on a cents/lb Cr contained basis.

Platts is also proposing to update the specification for its spot 60-65% ferrochrome CIF Japan price assessment, to meet the following: High-carbon Ferrochrome 60-65% CIF Japan -- Weekly assessment of the repeatable, tradeable spot price for 60-65% high-carbon ferrochrome, with silicon content of 2-4%, maximum 8% carbon, 0.05% max phosphorous, 0.05% max sulfur, lump size 10-100 mm, all origins. The assessment will reflect a typical order quantity of a minimum 200 mt, loading from the port of origins for shipping to Japan within 60 days from the date of transaction, CIF main Japanese port basis, payment cash against documents, or payment terms letter of credit at sight. Packed in 1 mt big bags, or in bulk, and/or in ocean-going, customs-sealed containers at point of export. Assessment made Thursdays (or closest business day in the case of holidays), from a survey of producers, traders and end users in the carbon, stainless and specialty steel sectors, reflecting the narrow low-high price range of the majority of spot deals, bids and offers on a cents/lb Cr contained basis. Platts will align the name of the price as it appears in Metals Daily, Metals Week, Platts Metals Alert and its internal database to: High-carbon Ferrochrome 60-65% CIF Japan. Platts is accepting feedback on the proposed changes through June 28. Please address any feedback to Vivian Teo, phone +65-6216 1055 or via email vivian.teo@platts.com, or Mayumi Watanabe, phone +81-3-4550-8833 or via email mayumi.watanabe@platts.com, with a CC to Karen.mcbeth@platts.com.