Glencore’s 4Q benchmark down to $1.24 pre discounts

Glencore lowered its fourth-quarter charge chrome price 10.1% to $1.24 per lb. The company is also have thought to have increased its discounts for most buyers from slightly under 20% to between 22-24%. Other major consumers are thought to have received much higher discounts.

Consumers were hoping for lower prices but a slight strengthening in the rand and marginally higher Chinese ferrochrome prices dashed those hopes.

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TAN
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TAN

Why would they need to increase their discounts? Or why are
“thought” to have increased discount? Demand very strong in da markits and supply in hands of them and Samancor. They can demand discount or sell to alternate. Understood discounts at 18-20.

joe
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joe

glencore have not increased discounts. as you say: they don’t need to. all major european and us mills use the benchmark for surcharges. it serves both sides well….

TAN
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TAN

Yes this guy hate Glencore haha so always write negative