Turkish Chrome Ore Exporters Expect Increase in H1 2009
February 6, 2009
In January Turkish chrome ore exports were 70,490 Tonnes, over 37% lower than the same month of last year Steel Business Briefing learns from Istanbul Mineral & Metals Exporters Association (IMMIB) data.
January exports were substantially higher than December’s 17,435 Tonnes, but still 60% lower than last year’s monthly average.
Turkey’s largest chrome ore exporter, Etikrom, tells SBB that the January export figures are a positive sign, even if they show a decline y-on-y, after the volumes in the last three months of 2008. “Turkish chrome ore exports have started to move up, and we are expecting to see more increases until May or June,” the company says.
Etikrom’s price for February as $275/tonne, and for March $300/Tonnes for 42 % grade lumpy material cfr Chinese main ports, SBB is told.
It is also reported that China imported large amounts of chrome ore (62,069 Ton) before the Chinese New Year, and also that Russia and US imported small amounts last month.
Source: Steel Business Briefing
http://www.steelbb.com
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OMC reduces Indian chrome ore price for Q1 shipments
January 31, 2009
It is reported that Orissa Mining Corporation has reduced the price of Indian chrome ore for domestic sale to a large extent. The new price is applied to shipments in January to March 2009 quarter.
As per report, a typical high grade chrome ore produced in India has contained Cr2O3 48% to 49.99% and its price has been reduced to INR 4,976 per tonne, corresponding to approximately USD 96 per tonne, which has fallen to nearly half of the price for October to December 2008 quarter.
At all events, the higher prices of USD 700 to USD 800 per tonne had once prevailed in the international market, mainly in China. However, owing to the cutback of ferrochrome to be produced from chrome ore as implemented from October of 2008, the world demand for chrome ore has decreased to a large extent and, in order to cope with this aspect, price of Indian chrome ore for domestic sale has been urged to revise.
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Sinosteel Founds Joint Venture in South Africa
December 26, 2006
Sinosteel Corporation has made a big breakthrough in its overseas expansion by establishing a joint venture with the world’s largest chrome ore owner in South Africa.
The State-owned metallurgical and mineral resources developer and processor reached an agreement recently in Beijing with Samancor Corporation to jointly exploit chrome ore resources.
According to the agreement, Sinosteel will hold a 50 percent stake in the joint venture, which is designed to turn out 1.6 million tons of chrome ore and 310,000 tons of ferrochrome annually.
The two sides will fulfill their rights and duties according to shares they hold.
The joint venture owns 74 million tons of chrome ore resources seven times China’s total chrome ore reserves.
Its efficient equipment and infrastructure for mining, ore selecting and metallurgy are a foundation for further development, said a representative of Sinosteel.
With an expansion in production, the project is expected to be more resistant to risk, he said.
Samancor Corporation is a large chrome ore and ferrochrome enterprise registered in South Africa. Its main businesses are metallurgy, refractory, casting, chemical processes and chromium processes.
The corporation currently produce over 3 million tons of chrome ore and 1 million tons of ferrochrome annually.
Samancor owns 700 million tons of ferrochrome ore resources, 70 percent of the total in South Africa and enough for at least 20 years’ exploitation.
Large-scale technology renovation is underway in the corporation to increase the mechanization in mining.
“The new joint venture is a win-win project,” said the Sinosteel representative. Samancor has rich chrome ore resources, and Sinosteel enjoys the advantage in technology, marketing, management and fund raising, he said.
It is not the first chrome ore project established by Sinosteel in South Africa. The company set up a joint venture with South Africa Limpopo Province Development Corporation, ASA Metals, as early as 1996. The project includes a mine with an annual output of 400,000 tons of chrome ore and a smelting plant producing 120,000 tons of ferrochrome a year.
Sinosteel is a central enterprise under the administration of the State-owned Assets Supervision and Administration Commission of China.
(China Daily December 23, 2006)
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