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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (29458)	11/25/2008 9:55:40 AM
From: LoneClone	Read Replies (1) \| Respond to of 193893

nternational Ferro cuts production By Maggie Urry Tuesday Nov 25 2008 06:00 us.ft.com International Ferro Metals added to the gloom in the steel-making sector on Tuesday, saying it would cease production for ferrochrome, used in making stainless steel, until demand recovers. Its shares plunged 27.7 per cent or 4½p to 11¾p on the news, which coincided with BHP Billiton (NYSE:BHP) abandoning its bid for Rio Tinto. IFM said it would supply customers from its stock inventory, standing at 38,076 tonnes at the end of October. It would stop selling any ferrochrome to China, as the price there had fallen so far that it was uneconomic to supply the market. IFM said "ferrochrome market conditions in China are worse than in other parts of the world".