Chinese steel imports hit 7 year low in December

Xinhua quoted data released by the General Administration of Customs shows that China imported less than one million tonnes of steel products in December 2008, the lowest monthly figure in seven years as economic downturn sapped demands.

Customs data showed that the imports have posted drastic slump since mid-2008 as the global financial crisis began to hurt the real economy. Only 929,000 tonnes were imported in December, sharply down from the 1.44 million tonnes in July and 30.4% less from a year ago.

A total of 15.43 million tonnes of steel products were imported last year, down by 8.6%YoY. The imports value grew 14% to USD 23.43 billion.

(Source: Xinhua)

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Physical Characteristics of CHROMITE

Color is brownish black to a deep dark black.
Luster is metallic to greasy.
Transparency: Crystals are opaque.
Crystal System is isometric; 4/m bar 3 2/m
Crystal Habits include octahedrons often with dodecahedral faces modifing the edges of the octahedron to the point of rounding the crystal. Well formed crystals are rare and chromite is usually found massive or granular.
Cleavage is absent.
Fracture is conchoidal.
Hardness is 5.5
Specific Gravity is 4.5 – 4.8 (average for metallic minerals)
Streak is brown.
Other characteristics: Weakly magnetic and an octahedral parting is sometimes seen.
Best Field Indicators are crystal habit, streak, associations with ultra-basic minerals and parting

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• Uses of Chromium (0)
• Chromite Reserves and Resources in China (0)

What is Chromite?

Chromite is an iron chromium oxide mineral and the only ore of chromium metal. It is a mineral found in ultrabaisc rocks such as peridotite. It is also found in serpentines and other metamorphic rocks derived from the alteration of ultrabasic rocks. It is a high temperature mineral often found in the lower parts of magma bodies from the fractional crystallization process.

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Uses of Chromium

In metallurgy, to impart corrosion resistance, create a shiny finish, or increase hardness:

-    as an alloy constituent, such as in stainless steel
-    in chrome plating
-   chromic acid is used in some anodizing processes
As dyes and paints:
-   Chromium(III) oxide is a metal polish known as green rouge.
-   Chromium salts color glass an emerald green.
-   Chromium is what makes a ruby red, and therefore is used in producing synthetic rubies.
-    also makes a brilliant yellow for painting

• As a catalyst.
• Chromite is used to make molds for the firing of bricks.
• Chromium salts are used in the tanning of leather.
• Potassium dichromate is a chemical reagent, used in cleaning laboratory glassware and as a titrating agent. It is also used as a mordant (i.e., a fixing agent) for dyes in fabric.
• Chromium(IV) oxide (CrO2) is used to manufacture magnetic tape, where its higher coercivity than iron oxide tapes gives better performance.
• In well drilling muds as an anti-corrosive.
• In medicine, as a dietary supplement or slimming aid, usually as chromium(III) chloride, chromium(III) picolinate, chromium(III) polynicotinate or as an amino acid chelate, such as chromium(III) D-phenylalanine.[7]
• Chromium hexacarbonyl (Cr(CO)6) is used as a gasoline additive.
• Chromium boride (CrB) is used as a high-temperature electrical conductor.
• Chromium(III) sulfate (Cr2(SO4)3) is used as a green pigment in paints, in ceramic, varnishes and inks as well as in chrome plating.
• Chromium(VI) is used in the post Ballard preparation of Gravure (rotogravure) printing Forme Cylinders. By electroplating the metal onto the second coat of copper (after the Ballard skin), the longevity of the printing cylinder is increased.

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Minmetals to acquire stake in South African chromite mine

It is reported that China Minmetals Corporation is planning to acquire 70% shares of Vizirama, a South African chromite mining company bases in Townlands. Vizirama possesses the exploration rights for the mineral resources in Townlands, therefore, the acquisition will enable Minmetals to secure the leading position in the first phrase of exploration.
As per report, the acquisition will conduct by Minmetals’ subsidiary, Minmetals Development Co Ltd with the total investment of several million USD. By the moment, the National Development and Reform Commission has already granted the investment and the further approvals are needed from the Ministry of Commerce and the State Administration of Foreign Exchange.
China Minmetals Corporation is a trader as well as an investor for both steel and other metal products. It has long showed interest in South African mineral resources and has taken several actions in the region, such as the USD 6.5 million acquisition of Naboom ferrochrome mine in 2007, a 3 years’ contract with Palabora Mining Company to purchase 2 million tons iron ore each year in 2006 and the office set-up in South Africa to export chrome concentrate and manganese to China in 1992, etc.

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