Glencore’s ferroalloys unit logs strong profit
Aug 20, 2014 | 05:08 PM
| Daniel Fitzgerald
NEW YORK Glencore Plcs 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 companys 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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