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First quarter 2019 ferrochrome price

CIA DE FERRO LIGAS DA BAHIA - FERBASA (B3: FESA3 / FESA4) hereby informs to the market in general that the European benchmark Ferrochrome price has been settled at US$c 112 /lb.Cr for the 1st quarter of 2019. This represents a decrease of 9.7% from the price in the fourth quarter of 2018. The new price goes into effect on 01.01.2019 and will be the basis for negotiation with our customers.

Salvador, December 18, 2018

Marcio Lopes F. de Barros
CEO and IRO