Samancor plans chrome cuts amid depressed prices, expects 'no relief for 3-4 quarters'
Published: Monday, 16 December 2019
South Africa’s largest ferro-chrome producer Samancor Chrome will cut back both mine and smelter operations in response to “persistent depressed prices” and electricity supply constraints, it announced on Friday December 6.
The company wrote to employees on December 9 that the
decline in prices over recent months and the further declines
expected this month mean that the market is "much worse than
anyone could have expected," adding that no relief is expected
for three to four quarters.
Chrome ore and ferro-chrome...