Reuters reported that South African miner International Ferro Metal's output fell by 17% in the fourth quarter due to a scheduled shutdown of a furnace.

Ferrochrome production was at 42,584 tonnes for the quarter ended June 30th 2011. Sales of ferrochrome fell by 37% to 34,735 tonnes due to softer demand.

However, IFM said the outlook for the ferrochrome market remained attractive.

Traders said last week that ferrochrome prices are expected to recover beginning in September as high energy costs lead to a reduction in supply and as stainless steel users start restocking material.

IFM, which appointed former BHP Billiton manager Mr Christiaan Jordaan as its new chief executive last month to replace Mr David Kovarsky, backed its production outlook of about 27,000 to 31,000 tonnes for the quarter ending September 2011.

(Sourced from www.reuters.com)