Europe’s benchmark ferro chrome price for Q2CY23 rises q-o-q

Merafe, South Africa’s major ferro chrome producer, has set its price, which is the European benchmark, at 172 cents/lb for Q2CY23, up 15.4% q-o-q from 149 cents/lb in the previous quarter. This announcement came following the Glencore’s decision to cut ferro chrome production this year due to an 18.65% increase in ESKOM’s electricity tariffs from Apr’23, sources informed.