Glencore’s ferroalloys unit logs strong profit

Aug 20, 2014 | 05:08 PM | Daniel Fitzgerald

Tags  Glencore, ferrochrome, ferroalloys, stainless steel, Merafe Resources, chrome, ferrochrome, Daniel Fitzgerald

NEW YORK — Glencore Plc’s ferroalloys division posted a 40.5-percent increase in earnings for the first half of the year, due in part to growing ferrochrome consumption and pricing outside of China.

The Baar, Switzerland-based mining company’s ferroalloys unit posted adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $208 million for the first half ended June 30 vs. $148 million in the same period last year, despite revenue falling 8.6 percent to $898 million from $982 million.....

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