SwapX Weekly Report 27/09/2021
Chrome Ore market prices, insights by origin on 27 September 2021.
CHROME MARKET ANALYSIS
The mining industry recent report (2019) highlights Chromium ore export sales of 42% and 58% local with a total value of R22,6 billion. The value of Chromium ore sales increased by R8,3 billion in 2019 compared with 2015.
Container ships are currently queuing for access to overloaded ports, mainly in the US and China. Additionally, the container shipping industry is creaking under the strain of high demand. Subsequently, Chrome has managed to compete for space on bulk vessels against low-level Iron ore prices.
SA can produce 5.6-million tonnes of ferrochrome a year but only has about 3.6-million tonnes. Expectations for the fourth quarter is an increase of exported Chrome ore and a decrease in the production of locally produced ferrochrome. (Report by Westlee Kieser)