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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
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