India and South Africa may stop chrome ore exports to ChinaSahit...

India and South Africa may stop chrome ore exports to China

Sahit Muja: August 25th 2011

India and South Africa may stop chrome ore exports to China Albanian Minerals President and CEO said "The government's in South Africa, India, Zimbabwe had been petitioned by local ferrochrome producers to halt the export of raw chrome ore to China".

China is importing the raw chromite ore from South Africa, Zimbabwe, Turkey, Albania and India at low prices and using it to produce ferrochrome itself. Zimbabwe has banned the export of chrome ore. India has huge domestic demand for chrome ore in the future.

South Africa may impose export duties and other controls to stop a surge in chrome ore sales to China so local ferrochrome makers can stay competitive, the head of Merafe Resources Ltd. (MRF) said.

South African producers of ferrochrome, made from chrome ore, have hired independent consultants to investigate the industry, and a report with proposals to control exports will be submitted to the government by the end of September.

Chinese ferrochrome output rose 12 percent to 1.2 million metric tons in the year to June, compared with 0.1 percent growth to 1.85 million tons in South Africa China doesn't have reserves of chrome ore and is planing to be the world's largest ferrochrome producer by 2015.

Albanian Minerals President and CEO said "China is in desperate need of new chrome ore deposits and the prices of chrome ore are expected to jump in 2012".

Albanian Minerals President and CEO said . "China is expected to produce 700 million tons of steel in 2011 the prices and demands for chrome ore are increasing".

Albanian Minerals
New York
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Any price increase to basic chromite (metallurgical grade) will flow through all the grades.

The interesting part in regards to IDM is that China will soon be the biggest importer of foundry grade.

I think Phil Garratt and his boys may need to get a full-time translator.

Pep