Japan: Nippon Steel settles ferro chrome prices at 13-year high for Q1CY’22 sales

Nippon Stainless Steel settled ferro chrome purchase prices at $1.88/lb CNF Japan, up by 50% y-o-y for Jan-Mar’22 quarter shipments from South Africa. Demand for ferro chrome is strong, especially in Europe. Although Chinese demand is lagging on decline in steel production, the overall supply-demand dynamics continue to be tight. Meanwhile, in South Africa, mining operations and logistics have been affected by the new corona mutant strain, which has disrupted supply.