Slovak ferro-alloys producer OFZ Slovakia has cut more than half of its ferro-alloy production with immediate effect due to energy prices that have surged more than six-fold recently, an industry source told Fastmarkets.
The company, which produces ferro-silicon and manganese alloys, has shut four out of its seven operating furnaces, including two ferro-silicon furnaces, a silico-manganese furnace and a smaller refining furnace. Each of the ferro-silicon furnaces was working at a rate of 1,000 tonnes per month, while the silico-manganese furnace was running at a rate of 2,000 tonnes per month."OFZ has some stocks of the affected ferro-alloys production to supply long-term contracts to customers until the end of November," the source said. "December is a bit uncertain,...