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Print[Ferro-Alloys.com] Global demand for ferrochrome was expected to improve, said BDLive citing comments from Merafe Resources which posted a 58% decline in taxed profit for the financial year ended December 31.
Ferrochrome, which is used in the manufacture of stainless steel and is closely linked to industrialisation in China, is expected to see a price rise in Merafe's new financial year owing to supply cutbacks, BDLive said.
Merafe agreed with Eskom to shut five of its 20 furnaces in terms of an electricity buy-back agreement.
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