TEX reported that spot prices of high carbon ferrochrome and low carbon ferrochrome have currently risen substantially and accordingly, the prices of ferrochrome in both grades of high carbon and low carbon to be settled with regular consumers for shipments in the second quarter (April - June) of 2011 are anticipated to rise considerably.

At present, the parties concerned have been strongly interested in seeing an issue of the negotiations with stainless steel companies of Europe on benchmark price of South African charge chrome for shipments in April - June quarter, which are scheduled to be taken place from this week.

While the benchmark price of South African charge chrome settled with major stainless steel mills in Europe for shipments in January - March quarter of 2011 is 125 US Cents per lb. of Cr on DDP base, producers' side has aimed to rise this benchmark price by 25 US Cents per lb. of Cr at least for April - June quarter but mills' side is supposed to assume a rise of 15 US Cents per lb. of Cr.

(Sourced from Tex Reports)