Richards Bay Alloys suffers assumed loss amid low ferro-chrome prices, seeks lower costs

Traxys subsidiary Richards Bay Alloys has made an assumed loss due to low ferro-chrome prices over the past few months and is working to cut costs for the future, according to a letter sent to employees on September 1.

The company has confirmed it has closed its South Africa-based 150,000 tpy ferro-chrome plant for three months due to “low international ferro-chrome prices” and that it will consider restarting it if prices recover, Metal Bulletin reported today.  Metal Bulletin’s charge chrome index stands at $1.05 per lb, according to Metal Bulletin’s latest assessment on September 8, having traded as low as 70 cents per lb in June...

Published

Janie Davies

September 14, 2017

15:56 GMT

London