UPDATE: Merafe Says 3Q European Ferrochrome Prices Fall 4%
02 July 2010 - 7:04PM
Dow Jones News
European prices for ferrochrome, a key ingredient in stainless
steel, have been agreed 4% lower than in the prior three-months,
Merafe Resources said Friday.
The South African company, which produces ferrochrome in a joint
venture with Xstrata PLC (XTA.LN), said the benchmark price was
settled at $130 a pound from $1.36/lb in the second quarter.
The price was raised 35% for the second quarter as demand
recovered after a fall of 2 cents in the first three months.
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com
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