Nippon Steel & Sumikin Stainless Steel announced on the end of last week that the price of South African charge chrome for shipments to Japan in the fourth quarter of 2009 has risen by 14 US cents to 111 US cents per pound of Cr CIF.

The price for the preceding quarter of July to September had a rise of 20 US cents per pound of Cr and, therefore, South African charge chrome has risen successively its price for the two quarters.

Stainless steel companies in Europe have already agreed to a rise of 14 US cents per pound of Cr at the beginning of last week.

Stainless steel companies in Japan have attached an importance to the stabilized production of ferrochrome in South Africa, where is a major country to supply ferrochrome for Japan, and the reason, why Japanese mills have agreed to a rise of price for South African charge chrome as decided in this time, has accorded to a basic concept as mentioned above.

(Sourced from TEX Report Limited)