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Weak Global Demand for Stainless Steel Pressuring Ferrochrome Prices-The 21st China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/2/2020 - Stainless Steel Exhibition |
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South African Ferrochrome producer Merafe Resources recently said the European benchmark ferrochrome price will decrease by 1% in the first quarter of 2020 to USD 1.01 a pound. In the fourth quarter of 2019, price of ferrochrome stood at USD 1.02 per pound. While the new settled price only reflects a 1 US cent decrease, it is now at 2016 lows. In 2019, the European benchmark ferrochrome price declined by 17.8%. The fall was largely driven by weak global demand for stainless steel.
South Africa is the dominant player in the global industry, accounting for about 72% of the world''s chrome reserves. According to Merafe Resources, the industry employs about 200 000 people in SA, directly and indirectly through linked industries. Merafe holds a 20.5% interest in the Glencore-Merafe Chrome Venture that operates several ferrochrome plants. The weak demand was partly responsible for the 29% decrease in ferrochrome production by the Glencore-Merafe Chrome Venture for the third quarter of 2019
不锈钢展-2020第二十一届广州国际不锈钢工业展-效果最好的不锈钢展会-The 21st China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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