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The frequency of the assessments, which was previously weekly, has now moved to a fortnightly basis, with the first new assessment due on Tuesday January 11.
The change is in response to market feedback, and internal analysis showing a progressive evolution in liquidity and trading activity across the main chromite prices over the past year, following the start of the Covid-19 pandemic. The amended frequency of the price assessments is intended to ensure that pricing is aligned to this evolution in trading activity.
Following the amendment, the full specifications for the Fastmarkets chromite prices are as follows:
MB-CHR-0001 Chromite, chemical, 46% Cr2O3 min, wet bulk, fob South Africa, $ per tonne
Quality: Sand, wet bulk; min 46% Cr2O3; max 1% SiO2
Quantity: Min 1,000 tonnes
Location: fob South Africa
Unit: US$ per tonne
Publication: Fortnightly, Tuesday, 4pm London time.
MB-CHR-0005 Chromite, foundry, 46% Cr2O3 min, wet bulk, fob South Africa, $ per tonne
Quality: Sand, wet bulk; min 46% Cr2O3; max 1% SiO2; AFS 45-53, turbidity max 250 NTU
MB-CHR-0009 Chromite, foundry, 46% Cr2O3 min, dried and bagged, fob South Africa, $ per tonne
Quality: Sand, dried, in bags; min 46% Cr2O3; max 1% SiO2; AFS 45-53, turbidity max 250 NTU
Quantity: Min 100 tonnes
MB-CHR-0004 Chromite, foundry, 45.8% Cr2O3 min, wet bulk, fob South Africa, $ per tonne (inferred)
Quality: Sand, wet bulk; min 45.8% Cr2O3; max 1% SiO2
MB-CHR-0006 Chromite, refractory grade, 46% Cr2O3 min, wet bulk, fob South Africa, $ per tonne (inferred)
To provide feedback on these price assessments, or if you would like to provide price information by becoming a data submitter to these prices, please contact Davide Ghilotti by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Davide Ghilotti, re: chromite.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.