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Europe Q3 benchmark FeCr price settled 2.5% lower than Q2

Thursday, 31 July 2014

Glencore-Merafe Chrome Venture and European stainless steelmakers have settled the term price for July-September ferrochrome sales at 119 cents/lb, Merafe Resources said Wednesday.

The third quarter price is down 2.5% from the second quarter price of 122 cents/lb -- the term price is viewed as a benchmark in Europe.

Merafe Resources has a 20.5% stake in Glencore-Merafe Chrome Venture, the world's largest ferrochrome producer, with the rest held by Glencore Xstrata.

-- Vivian Teo

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