European ferrochrome benchmark jumps to four-year high of $1.56/lb for Q2 2021

The European high carbon ferrochrome benchmark price jumped by 38.5 cents, or 32.8%, to $1.56 per lb for the second quarter of 2021. The steep bounce in the benchmark price can be attributed to the rising electricity tariff in South Africa, high global ferro chrome and stainless steel prices in Europe, and high freight rates. The quarterly benchmark price is settled via negotiations between a South African chrome producer and a steel mill from Europe.