June 2009 | Steel Raw Materials
Third quarter Ferro-Chrome contracts settled: Ferro-alloy Highlights
The South African rand has strengthened by 20% against the dollar in the past two months alone. Electricity prices have also shot up. The winter tariff set in at the start of June, lifting prices by 20%.
The Q3 contracts have ben settled between South African chrome producers and European stainless steelmakers at 89 cent/lb. This is a 20 cent/lb increase on the last quarter, equivalent to a 29% rise. This price rise would have been unthinkable only two months ago, but the situation has changed on the ground in South Africa since then.
The South African...
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