A third of ferroalloy plants halt in Sichuan

A third of ferroalloy plants halt in Sichuan 发布时间:08-10-28    阅读次数:   

“The difficulties that steelworks are confronting with are spreading to the ferroalloy industry,” according to sources with the Machinery, Metallurgy and Construction Materials Department of the Provincial Economic Commission of Sichuan. “Mills are now reluctant to buy ferroalloy due to the financial turmoil-triggered falling prices of steel. Accordingly, a third of ferroalloy plants in Sichuan are said to have been shut down. Chuantou Etie produced 83,000 tons of ferroalloy in the first half of this year, had sales revenue of 750 million yuan, up 63 percent and a profit of about 36 million yuan. Entering September, however, the price of ferroalloy has dropped to 9,000-odd yuan per ton from the record of more than 14,000 yuan per ton. The plant’s inventory has reached 4,000 to 5,000 tons until recently.