Ferrochrome drops 13%

Benchmark prices for ferrochrome fell for a third consecutive quarter on lower demand from stainless steel producers for the raw material. Over 80% of FerroChrome is utilised  for stainless steel production. Second-quarter European contract prices dropped 13 percent to 69 U.S. cents a pound, from 79 cents in the first quarter, Johannesburg-based Merafe Resources Ltd. said [...]