EduBourseActualitésXstrata Alloys: Xstrata-Merafe Chrome Venture announces further ferrochrome production cuts

Xstrata Alloys: Xstrata-Merafe Chrome Venture announces further ferrochrome production cuts

On 10 November 2008, the Xstrata-Merafe Chrome Venture (the “Venture”) announced the temporary suspension of six ferrochrome furnaces, representing 500,000 tonnes of annual capacity. The Venture reviews market conditions closely on an ongoing basis and has decided to implement further reductions in ferrochrome production to respond to short term weakness in demand. A further five furnaces have now been suspended, representing approximately 406,000 tonnes of annual ferrochrome production capacity and reducing 2008 ferrochrome production by a further 50,000 tonnes. The total suspended capacity represents 906,000 tonnes or 52% of annual operating capacity.

A total of one furnace at Boshoek, four furnaces at Rustenburg, three furnaces at Lydenburg and three furnaces at Wonderkop will remain suspended until market conditions improve. The Xstrata-Merafe Chrome Venture will continue to monitor prevailing market conditions closely. No lay-offs are anticipated for permanent employees at the furnaces, enabling the Venture to return capacity quickly and efficiently when market conditions allow.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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