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Brazilian companies halt output of ferro-alloys, silicon on energy price hike
July 21, 2014 - 16:16 GMT
Soaring energy prices have led some Brazilian ferro-alloys and silicon metal producers to suspend operations, according to the association that represents the sector, Abrafe.
"The unexpected shortage of rainfall directly affects the
current record rise in electricity prices, leading to
reprogramming in production planning and, in some cases, to the
temporary shutdown of the operation of some associates, for
furnace maintenance," Abrafe told Metal Bulletin. Hydroelectric
generation accounts for 63.3% of Brazil's energy, according to
state electric energy agency Aneel. But the country has been
suffering its worst drought in over eight decades, which has
driven up energy prices to record levels. The average
short-term energy price in the Brazilian spot market
was 655.14 Reais ($293.15) per MWh in the week of...
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