Consolidation in the bulk ferroalloy business is like playing whack the mole. Just as soon as one company goes bankrupt, gets sold, or closes down, another takes its place. I find it amusing that Gulf Mining Group in Oman just announced it is building a manganese smelter in the country and increasing its ferrochrome smelter from 50,000 mtpy to 150,000 mtpy to take advantage of the country’s ore reserves. This comes at a time when prices at or near historically low prices for both commodities.
Anyone got a mallet?