April 2020 Surcharge Announcement
As a result of the impact of Covid-19, the determination of the European benchmark ferrochrome price for the second quarter of 2020 has not been finalized and is still under review. This published price is a critical component of the supply chain as it becomes a baseline figure in determining mill raw material pricing along with being the baseline value in determining the chrome portion of the alloy surcharge. Due to the delay in publishing of this figure we must provide a temporary surcharge value for April until a formal second quarter value is determined. As such we will publish an April surcharge today utilizing the first quarter value of $1.01 and begin the process of invoicing April shipments accordingly. Once the European benchmark ferrochrome price for the second quarter of 2020 is published, NAS will republish the April surcharge prices.
In addition, NAS will issue a single summarized debit or credit involving April invoices processed using the temporary surcharge value.
Should you have any additional questions please consult your Regional Sales Representative.