Nippon Steel & Sumikin Stainless Steel (NSSC), the largest stainless steel producer has settled the import prices for high carbon ferrochrome with South African producers at 126 cent/lb. CIF for the first quarter of 2014, rising by 4.6% from a quarter ago.
In fact, NSSC expected South African producers to reduce prices or remain prices flat.
However, the South African producers request to raise prices as they believe the prices for fourth quarter are at bottom. Besides, as power costs have increased in South Africa, it pushed up the ferrochrome producers’ input costs.
Thus, NSSC finally accepts price rise for the first quarter of 2014.
In fact, NSSC expected South African producers to reduce prices or remain prices flat.
However, the South African producers request to raise prices as they believe the prices for fourth quarter are at bottom. Besides, as power costs have increased in South Africa, it pushed up the ferrochrome producers’ input costs.
Thus, NSSC finally accepts price rise for the first quarter of 2014.