Glencore-Merafe Chrome Venture and European stainless steelmakers have settled the term price for January-March 2015 ferrochrome sales at 108 cents/lb, down 6% from the Q4 2014 price of 115 cents/lb, Merafe Resources said Friday.
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.
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