Third-quarter ferrochrome price down 13% q/q
JSE-listed Merafe Resources on Friday advised shareholders that the European benchmark ferrochrome price had been settled at $1.04/lb for the third quarter.
This represents a 13.3% decrease on the ferrochrome price of $1.20/lb for the second quarter, and is the lowest level since the third quarter of 2016.
MBO Metals noted in a brief on Friday that the lower price reflected weakening global stainless steel prices which had been adversely impacted on by high inventories.
"We are already seeing ferrochrome supply adjustments on the back of lower prices, with Afarak Group idling two furnaces in South Africa.
"We see European stainless as the weakest global market given lower demand and pressure from imports, and the situation may be about to get worse with Acciai Speciali Terni in Italy looking to add about 10% more capacity over the coming year," MBO added.
Merafe holds a 20.5% interest in the Glencore-Merafe Chrome Venture, which operates a number of ferrochrome plants in the North West, Limpopo and Mpumalanga.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation