China is SA’s biggest ferrochrome export threat Staff reporter7 Aug Merafe Resources, one of the major ferrochrome producers in the world, saw a 48% increase in ferrochrome exports to China for the first half of this year but is still surpassed by the Asian country in terms of overall global exports. “It is estimated that 3.1 million tonnes of chrome ore was imported into China from South Africa in the first half of 2013,” reads a statement from Merafe, focusing on its first half of 2013 financial results. Despite this increase, Merafe says South African ferrochrome imports into China continue to be displaced by domestic Chinese ferrochrome production on the back of unbeneficiated chrome ore exports from South Africa. “Chinese ferrochrome production continues its forward growth momentum and China maintained its position as the largest producing country in the world. China is currently ahead of South Africa, which accounted for only 29% of global ferrochrome production in the first half of 2013,” noted Merafe. According to Merafe, China accounted for 37% of the world’s total ferrochrome production in the first half of 2013. The company, along with other industry stakeholders, is working with government to “find sustainable solutions to this challenge”.
Posted on: Wed, 07 Aug 2013 12:15:56 +0000
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