European benchmark price for the charge chrome from South Africa shipped during the first quarter (January to March) of 2012 has been agreed between the suppliers and the consumers. This agreement, making the benchmark price down to USD 115 per pound ddp, will be announced soon by the suppliers.

Profitability of the South African producers has been improved by the weakened Rand, but on the other hand the mills in Europe are in the midst of hardship, such as forced curtailments and lay offs and so on. The new price was agreed under these circumstances.

(Sourced from TEX Report Limited)