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South Africa cuts Q3 ferrochrome base prices to Europe
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It’s reported that the South African ferrochrome producers have cut the Q3 export base prices by US$0.1/lb. from the Q2 prices of US$1.35/lb. to European buyers due to falling demand.
It’s known that the demand for ferrochrome decrease as the European stainless makers decreased the production during the summer time.
In fact, the South African ferrochrome producers have faced severe difficulty in this Q3 due to dropped demand from Europe and Asia and depreciated South African Rand.
In Asian stainless steel market, the Chinese stainless producers started to reduce production since this May. Also, the stainless makers in Taiwan and Japan have all cut the production.
News Date
7/3/2012 8:46:25 AM
reported by
Piper
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