High Q1 ferrochrome price settled at lower Q2 level – Merafe
The European benchmark ferrochrome price has been settled at $1.54/lb for the second quarter (Q2) of 2017, a decrease of 6.7% on the high-flying $165/lb first-quarter (Q1) price, Merafe Resources announced last week.
The settled Q2 price is well up on the average 2016 European benchmark ferrochrome price of $95.5/lb and the average $1.07/lb of 2015.
Ferrochrome and chrome ore prices recovered from rock bottom in Q1 of last year and, despite market volatility in the 12 months to December 31, coupled with the challenges and cost pressures faced by the South African ferrochrome industry, Merafe reported its second-highest headline earnings ever.
Ferrochrome-using stainless steel production is projected to grow by 3.5% in 2017 and by 3.8% in 2018, which should be followed by increased ferrochrome demand.
The JSE-listed Merafe, headed by CEO Zanele Matlala, shares in 20.5% of the earnings of the Glencore-Merafe Chrome Venture, South Africa’s lowest-cost ferrochrome producer, with a capacity of 2.3-million tonnes of ferrochrome a year.
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