[miningmx.com] — MERAFE Resources said Tuesday that in response to rising demand, ferrochrome production for the Xstrata-Merafe Chrome Venture for the first half of 2010 was 157,000 tonness, 149% higher than the same period in 2009.
The stronger Rand against the US dollar coupled with the electricity price increases in South Africa enabled ferrochrome producers to achieve a 35% increase in the European benchmark ferrochrome price from $1.01 per pound in the first quarter of 2010 to $1.36 per pound in the second quarter of 2010.
On 2 July 2010, Merafe announced that the European benchmark ferrochrome price was settled at $1.30 per pound for the third quarter of 2010, a decrease of 4% from the second quarter of 2010.
