Ukrainian Ferroalloys Producers to Suspend Production from November 1
OREANDA-NEWS On 01 November Ukrainian Ferroalloys Association (UkrFA) announced that all the association companies, including ferroalloys producers and manganese mining companies, decided to suspend their production starting from November 1, due to the problems with sales.
Meanwhile, the ferroalloys producers said they are ready to make advances to steelmakers in talks about their products supply, and stressed that searching for a compromise will allow their companies to resume operations.
UkrFA includes Nikopol Ferroalloys (PFTS: NFER), Stakhanov Ferroalloys (PFTS: SFER), Zaporizhie Ferroalloys (PFTS: ZFER), Pubuzhie Ferro-Nickel, Manganese Mining (PFTS: MGZC) and Ordzhonikidze Mining.
For the last three months, Manganese and Ordzhonikidze mining companies stored the manganese ore in the warehouses, as the warehouses of ferroalloys producers were overstocked with inputs delivered amid declining consumption and output.
The companies have worked out measures to retain all the personnel, despite sending their workers to forced vacations for the period of production suspension.