Samancor plans chrome cuts amid depressed prices, expects 'no relief for 3-4 quarters'

South Africa’s largest ferro-chrome producer Samancor Chrome will cut back both mine and smelter operations in response to “persistent depressed prices” and electricity supply constraints, it announced on Friday December 6.

The company wrote to employees on December 9 that the decline in prices over recent months and the further declines expected this month mean that the market is “much worse than anyone could have expected," adding that no relief is expected for three to four quarters.

Chrome ore and ferro-chrome prices hit multi-year lows in early December...

Published

Janie Davies

December 13, 2019

17:47 GMT

London