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Brazilian companies halt output of ferro-alloys, silicon on energy price hike

July 21, 2014 - 16:16 GMT Location: São Paulo

KEYWORDS: Brazil , ferro-alloys , silicon metal , aluminium , energy , Abrafe

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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