Recently, the South African ferrochrome suppliers have reached agreement with the European stainless steel mills for the second quarter ferrochrome prices.
The ferrochrome contract prices are at US$1.27/lb. for the second quarter, rising by US$0.145/lb. from a quarter ago.
In Europe, the spot prices of ferrochrome have surged to US$1.02~US$1.06/lb. from US$0.97~US$1.01/lb. since this year.