Japan: Nippon Steel Stainless secures stable ferro chrome prices for Jul-Sept'24 amid market uncertainties

Nippon Steel Stainless Steel Corporation has reached an agreement with several South African ferro chrome manufacturers to maintain the same ferro chrome bid prices for Q3CY24 (July-September). Other Japanese stainless steel manufacturers are also expected to follow the same prices.

The price of high-carbon ferro chrome was settled at $1.6/lb CNF Japan. Although South African manufacturers had previously raised prices due to increased electricity costs since April but due to no major changes in supply and demand, prices remained stable.

Since last month, European benchmark prices were stopped which raised concerns around reduced price transparency in the European market. In response, Nippon Steel Stainless Steel independently negotiated with South African suppliers while monitoring European market trends.

Note: This article has been published in accordance with an article exchange agreement between Japan Metal Daily and BigMint.