Norway-based ferro-silicon producer Elkem will temporary cut production at its European operations because of weakening prices and plentiful supply.
"As a consequence of the sharp decrease in ferro-silicon prices and oversupply in the European market, Elkem is planning temporary reductions of production capacity," the company said on its website. The first capacity adjustment is planned in June, when one furnace in Elkem Iceland will be temporary idled, the company said. Further capacity adjustments will be considered based on market developments, it said. Elkem will honor contractual obligations and supplies to long-term specialty ferro-silicon customers, but limit spot sales until the market prices recover. "One furnace in Iceland that has the capacity to make 3,500...