JOHANNESBURG (miningweekly.com) – JSE-listed Merafe Resources on Thursday said the European benchmark ferrochrome price for the first quarter of 2017 has been settled at $1.65/lb.
This, the company noted in a statement to shareholders, would be an increase of 50% from the $1.10/lb price in the fourth quarter of this year.
In August, the company said it expected to benefit from renewed positive ferrochrome demand trends, as well as from the fact that only four of the seven South African ferrochrome producers were in production.
Merafe – headed by CEO Zanele Matlala – generates income primarily from the Glencore–Merafe Chrome Venture.