It is reported that Nippon Stainless Steel Corporation has reached the agreement with the South African ferrochrome producer to raise the Q2 contract prices to USD 1.43 per pound, up by USD 0.1 per pound or 7.5%.

In fact, South African supplier sought to increase the Q2 contract prices by USD 0.2 per pound, driven by the rising electricity costs and inflation.

However, the price hike was unfavorable to NSSC due to the ambiguous market situation caused by the unstable political situation and the devastating quake in Japan.

Meanwhile, it's known that South African makers concluded the Q2 contract prices of ferrochrome with European buyers at USD 1.35 per pound in March 2011, up by 8% in comparison of that in the Q1.

(Sourced from YIEH.corp)