The European benchmark ferrochrome price for the fourth quarter of 2021 has been settled at $1.80/lb, a 15.4% increase from the third quarter, JSE-listed ferrochrome producer Merafe Resources said on Tuesday.
Mining Weekly last month reported that steel production had recovered to prepandemic levels, resulting in robust demand for ferrochrome and chrome ore, and better pricing on both.
Merafe CEO Zanele Matlala said in August that improved efficiencies resulted in record smelting production for the JSE-listed ferrochrome company, which reported cash-rich results supported by increased production on August 27.
It is expected that the production of ferrochrome for the 2021 full year will be 14.5-million tonnes, compared with 12.5-million tonnes in 2020.