With Brazil so much in the news, I decided to check on Ferbasa’s sales and production. The Brazilian company produced 85,913 mt of high-carbon ferrochrome in the first three quarters of 2016, down 21.6% from the same 2016 period. Sales of high carbon in the same period was 97,721 mt internally, up 12.6%, and external sales were 7,983 mt, a 157% INCREASE. Low-carbon ferrochrome production was 15,575 mt, up 14.7% from the same 2015 period while internal sales were 5,513 mt, down 27.7%. Exports, however, were up 171.4% to 11,667 mt.
Ferrosilicon production was 48,288 mt in the first nine months of 2016, down 31.8% from the same 2015 period. Internal sales were 23,530 mt, down 18.5%, but exports were up a whopping 181% to 58,437 mt.
The company said it also increased exports to reduce finished goods inventory.