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IFM paints a stormy picture

Incremental cost increases quarter-on-quarter and a slight dip in sales have conspired to foreshadow another half of losses similar to those that ended 2015 for South African ferrochrome producer International Ferro Metals (IFM). And the outlook for the rest of this year, at least, isn’t much better.

The beleaguered company released its fourth quarter to end-June production results this week and while IFM has shown some reason to be optimistic from an operational front, it remains difficult to be