Hernic Ferrochrome will scale down smelting operations in ‘challenging market’

Hernic Ferrochrome expects to scale down its smelting operations between June 1 and August 31, 2019, amid challenging market conditions, the company announced on April 30.

The South African ferro-chrome producer went into business rescue in September 2017. Rival Samancor Chrome was expected to buy it after being named the preferred bidder in 2017. An increase in the benchmark price for ferrochrome was offset by higher electricity prices. The increased cost of power combined with the volatility of the South African rand against the US dollar to influence the decision to scale back operations, the...

Published

Janie Davies

May 07, 2019

16:35 GMT

London