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[Ferro-Alloys.com]Chrome alloy and manganese alloy prices have been declining for years until the second quarter of 2016 when the prices rebounded sharply, and the prices continued skyrocketing in the beginning of the fourth quarter. As one of the earliest and largest ferroalloys producers, Jilin Ferroalloys signed an agreement with Ulanqab before China's National Day to construct new ferroalloys project in Ulanqab which is supposed to produce chrome alloy and manganese alloy. The phase I is expected to put into production in July 2017.
The project is mainly invested by Zhongze Group and Ansteel. The previous furnaces will be torn down. Jilin Ferroalloys is currently at a low operation rate despite the fact that the company's total annual capacity totals nearly 600,000 tonnes, due to the high power price. The cost of power will be cut by half in the new project.
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- [Editor:sunzhichao]
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