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(AMM) S. Africa power woes hurt ferrochrome

March 12, 2010 - 18:10 GMT Location: NEW YORK

KEYWORDS: South Africa , Eskom Holdings , ferrochrome , power generation

South African energy provider Eskom Holdings Ltd. said it needs a $3.75-billion loan from the World Bank to meet its power generation requirements.

The announcement is another indication that the possibility of expanding ferrochrome operations in South Africa may still be years away, even though demand and prices are on the rise.

High-carbon ferrochrome in the U.S. spot market is in a range of $1.30 to $1.35 per pound, up about 48 percent from the beginning of the year.

World stainless steel production could rise 50 percent this year from 2009, Macquarie Research analysts said recently, but the perilous power situation...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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