Cuts loom for chrome producers Samancor

Nov 28, 2005 | 07:54 AM |

South African charge chrome producers will be forced to trim production if prices fall further, leading producer Samancor Chrome said.

"A further reduction of the chrome price will cause a supply reduction as the current price does not allow South African (producers to) profit," said Danko Konchar, chairman of Samancor Chrome. "South African costs will not allow further price declines."

The company said it is clear that charge chrome production has to be adjusted in line with the cutback in stainless production, which will add significantly to fixed costs. It calculated that it costs 750,000 rand ($115,000) per month for each idled furnace.....

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