Mining Weekly reported that according to Merafe Resources Ltd. (JSE:MRF), the European ferrochrome benchmark price has been settled 6 percent lower for the first quarter of 2015.
As quoted in the market news:
The price of $1.08/lb for the first quarter of 2015 is seven cents a pound lower than the current $1.15/lb price for the fourth quarter of 2014.
Merafe owns 20.5% of the Glencore Merafe Chrome Venture, where it is a pooling and sharing partner to the large London-, Hong Kong- andJohannesburg-listed Glencore.
The venture owns and operates several chromite mines and 22 ferrochrome furnaces that have a combined yearly installed capacity of 2.34-million tons of ferrochrome, which is used mainly in stainless steel production.