Major Ukraine ferro-alloys producers slash output in October

The two biggest ferro-alloys producers in Ukraine - Nikopol and Zaporozhye - are almost halving production of manganese alloys in October due to surging electricity prices, a source told Fastmarkets on Monday October 11.

The Privat Group, which owns the facilities is shutting five of its 13 furnaces at Nikopol, cutting its monthly manganese alloys output to 35,000 tonnes, from 65,000 tonnes in September. It is also idling two silico-manganese furnaces at Zaporozhye, cutting monthly production there by 5,000 tonnes in October. Zaporozhye's monthly ferro-silicon production is unchanged at 6,000-6,500 tonnes, the source said.
"No-one is interested in cutting production volumes, but at this stage the situation is such that an increase in the cost of electricity entails a reduction in profitability, and hence a reduction in production. And no one will work at a loss for themselves," Nikopol chairman Vladimir Kutsin said.

Ukraine energy prices jumped more than 25% to 2,175 hryvnia ($94) per...

Geopolitical risk outlook unclear after US election

Low valuations offer a cushion to mining sector

Polarized gold and iron ore moves, moderate aluminum and copper gains

Large TSXV stocks strong on company specific drivers

Canadian political turmoil with Trump trade policy the catalyst