The ferrochrome benchmark contract price in Q3 2022 between South African ferrochrome suppliers and European mills was set at 180 cents/lb Cr, down nearly 16.7% from 216 cents/lb Cr in Q2 2022 but up nearly 15.4% from 156 cents/lb Cr in Q3 2021, and unchanged compared with Q1 this year. It is the first price cut since the first quarter of 2020.