PJSC "Klyuchevsky Ferroalloy Plant" and JSC "Russian Chrome 1915" from August 19 simultaneously stop the production of chromium oxide, chromic anhydride, metal chromium, ferrochrome and other ferroalloys. Preventive maintenance scheduled for September production plans will begin ahead of schedule and last at least three weeks.
According to the chairman of the board of the company Sergey Gilvarg, the decrease in output will help stabilize the market for chromium and chromium chemistry. “At the current price level, it is economically more profitable for all producers of chromium and ferrochromium to stop the production of these products than to continue to saturate the market with cheap material and stimulate a further fall in prices. Long-term forecasts for the consumption of chromium and chromium chemicals are generally positive for the industry. Not only consumption will grow, but also the cost: the main producers will have to significantly increase the costs of environmental programs, "- said the head of MidUral Group.
