International commodities producer and trader Glencore has cut its ferrochrome (FeCr) production guidance for 2020 in response to the impact of the Covid-19 pandemic.
Glencore’s new production guidance for FeCr in 2020 is 1 million mt, while previously the company expected to produce around 1.34 million mt in the current year. As SteelOrbis reported earlier, on March 26 Glencore suspended all mining and smelting operations in South Africa in accordance with the nationwide lockdown. As a result, in the January-March period this year Glencore’s attributable FeCr output totaled 388,000 mt, down three percent year on year and down five percent quarter on quarter. Since May 1, the company has begun a staggered restart of operations, SteelOrbis understands.
Glencore operates a chrome joint venture Glencore-Merafe Chrome Venture with a 79.5 percent share. In 2019, Glencore’s attributable FeCr production amounted to 1.438 million mt.