According to the market news, Samancor Chrome, the South African chrome producer, decided to reduce production and laid off staff while recombining the operations of its mining areas and smelters on the basis of the deterioration of the chromium market and the rise in electricity prices. At the same time, the company cited Chinese competition as another reason for the restructuring.

Eskom, the South African power company, has continued to raise electricity prices, making ferrochrome manufacturers facing costs rise. The price of electricity has risen by 23% over the past three years.

Due to oversupply, the price of ferrochrome in many areas of the world has reached a new low point for many years. The company said the restructuring was aiming at long-term growth.

It was known that both mine operations and smelter operations would lay off staff, and even office employees may be laid off.