European ferrochrome price for Q3 at record level - 03 Jul, 2008
South Africa's Merafe Resources said that European benchmark ferrochrome price was settled at a record level of USD 2.05 per pound for the third quarter of 2008 up from USD 1.92 per pound in the second quarter of 2008.
Merafe had in March said that the outlook for ferrochrome prices in 2008 was positive, with demand forecast to rise about 9%. But supply side constraints on South African producers because of the power outages and rations are expected to result in a supply deficit this year.
