Winter electricity tariffs, low prices prompt Samancor to switch out furnaces

Chrome producer Samancor Chrome intends to switch out furnaces at its eMalahleni, Middelburg, Steelpoort and Mooinooi operations, owing to the higher winter tariffs charged by Eskom, paired with a “sudden” downturn in the chrome market. The recent downturn saw chrome ore prices dropping from $350/t to below $150/t, while ferrochrome prices in China dropped from $1.15/lb to $0.65/lb.