Winter electricity tariffs, low prices prompt Samancor to switch out furnaces

June 19, 2017

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Chrome producer Samancor Chrome intends to switch out furnaces at its eMalahleni, Middelburg, Steelpoort and Mooinooi operations, owing to the higher winter tariffs charged by Eskom, paired with a “sudden” downturn in the chrome market. The recent downturn saw chrome ore prices dropping from $350/t to below $150/t, while ferrochrome prices in China dropped from $1.15/lb to $0.65/lb.

Category: General