Despite the weak fundamentals, high carbon ferrochrome prices in Europe are starting to pickup and are back at October's level of 96?/lb DDP, up 4% on November's average of 92?/lb. This is despite a weaker South African rand. A large part of this can be explained by news that Eskom, South African state power group, is negotiating a fresh round of electricity buyback deals with local producers, most of which are already done, (see below for more details) and on rising nickel prices (see below chart on right).
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