September 08, 2008

NSSC agrees for 19% price rise on ferrochrome in Q1

It is reported that Japanese Nippon Steel & Sumikin Stainless has signed the contract of ferrochrome prices with Samancor and Xstrata for the first quarter of 2008.

As per report, South African ferrochrome manufacturers insisted to increase the price by 19% to USD 129 due to the strong demand from China and price raise of coke.

As 40% of global ferrochromium is produced from South Africa, which is a major source for NSSC, it had no choice to accept the price raise from South African manufacturers.