Log In   |  Register Free Newsletter Subscription
Skip navigation
Zibb
Subscribe to Purchasing
Email
Print
Reprints/License
RSS
Average Rating:
  • (0)
    Rate this:
  • Xstrata to cut ferrochrome capacity by 20%

    Total of 17 furnaces now suspended, 1.3 million metric tons of ferrochrome capacity cut

    By Maria Varmazis -- Purchasing, 1/16/2009 9:50:00 PM

    Zug, Switzerland-based Xstrata, which runs a joint ferrochrome venture with Merafe Resources, announced that it will cut production of the alloy to 80% of annual capacity. The joint venture cites weakened stainless steel demand as the reason for the cutbacks on ferrochrome, an alloy used in stainless steel production, which is forecast to drop 1% globally this year after falling 7% last year. In early December Xstrata announced it would shut down 11 furnaces because of low demand, and today's news adds an additional six furnaces to that tally. In total the furnace shutdowns will reducing total ferrochrome output by at least 1.37 million metric tons.

    In a written statement, Xstrata and Merafe said they do not anticipate to cut labor, which will “[enable] the Venture to return to capacity quickly and efficiently when market conditions allow.”

    Average Rating:
  • (0)
    Rate this:
  • Email
    Print
    Reprints/License
    RSS
    Talkback
    Reed Business Information Resource Center

    Featured Company


    Most Recent Resources

    Advertisement
    Sponsored Links
    Advertisement
    BizConnect160x160
    BizConnect160x160
    NEWSLETTERS
    Price & Supply Alert
    The Midday Business Report
    Electronics Distribution & Global Sourcing
    IdeaFile
    Supplier Web Locator



    Please read our Privacy Policy

    About Us   |   Advertising Info   |   Site Map   |   Contact Us   |   FREE Subscription   |   Affiliate Links   |   RSS
    © 2009 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
    Use of this Web site is subject to its Terms of Use | Privacy Policy
    Please visit these other Reed Business sites