The European benchmark ferrochrome price has been settled at 98 cents/lb for the third quarter of 2016, a 19.5% increase from 82 cents/lb in Q2, South African producer Merafe Resources said Wednesday.
In Q3 2015, the benchmark price was settled at $1.08/lb, while Q1 2016 was the first time the price slipped below $1/lb since 2009.
Merafe has a 20.5% stake in the Glencore-Merafe Chrome Venture in South Africa -- the world's largest ferrochrome producer -- with the rest held by Glencore.
Merafe's attributable ferrochrome production from its stake in the Glencore-Merafe Chrome Venture was 377,000 mt in 2015.
