IFM unlikely to post profit in H2 as ferrochrome prices slump
January 26, 2009 by goldguru · Leave a Comment
Ferrochrome producer International Ferro Metals (IFM) on Monday stated that the company was unlikely to report a profit for the six months ended December 2008, as the price for ferrochrome plunged.
The London-listed company said it had experienced a rapid deterioration of the conventional industry wide ferrochrome pricing mechanism, which led to contract renegotiations and retrospective downward price negotiations.
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