European benchmark price for ferrochrome set for Q2

JSE-listed Merafe Resources advises that the European benchmark ferrochrome price for the second quarter of the year has been settled at $172/lb, an increase of 15.4% compared with the previous quarter. Merafe’s business has a 20.5% participation, through its wholly-owned subsidiary Merafe Ferrochrome, in the earnings before interest, taxes, depreciation and amortisation of the venture in which Glencore Operations South Africa has a 79.5% participation.