Market update for OSTP Group Customers:
LME has now traded for three consecutive days (25th, 28th & 29th ) within Daily Trading Limits (+/-15%).
This has enable the LME to publish Official Cash Closing Rates for these days. Naturally we cannot be assured that further disruption days will not occur but seemingly and hopefully some stability is returning.
OSTP as advised earlier was able to published its applicable AAF rates for April-22 delivered materials (Process Pipes and BWF’s) as expected by the normal due date (25th March).
We encourage and welcome all our customers to engage in dialogue with us through your normal contact routes so we can together plan your material needs for April to June so we can best adjust our planned production programs to ensure we maximise on time supplies and prepare mill stocks for the Summer Shut down period.
At current Nickel rates and the 20% increase to Q2 FeCr rates it should be naturally expected that AAF rates will increase still further in May at least if current conditions continue.
We remain committed to maintain regular news updates on our website for your information and guidance.
All information is given in our announcements are done so in good faith and without any liability or responsibility based on the best information available to us at the time of announcement.