CHANGE TO CHROME SURCHARGE MECHANISM
Since November 2016, North American Stainless (NAS) has used the European Ferrochrome Benchmark (“EUBM”) as the public index used to establish the purchase price of chrome and subsequently the value used to establish the chrome portion of the alloy surcharge. On May 20, 2024, it was announced that the “EUBM” would be discontinued, forcing NAS…