Re: How large is the chromite Market in Billions?

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Re: How large is the chromite Market in Billions?

in response to

How large is the chromite Market in Billions?

stock greed

posted on Oct 18, 2009 01:37AM

2008 world demand was approximately 8 million tonnes of ferrochrome. 2009 demand was estimated to fall to around 6 million tonnes. Ferrochrome currently sales for ( http://www.bloomberg.com/apps/news?pid=20601116&sid=aRr2QDJ5Wcbg ) $1.03usd/lb Q4 contract. So give or take the market is estimated to about a $6 billion dollar market in 2009.

Remember that ferrochrome is processed/smelted/upgraded chromite ore. Current (direct shipping) chrome ore prices (CR>42% South African origin -- http://www.ferro-alloys.com/Module/News/Content.aspx?NewsType=4&Nid=11127) are $240-$260/tonne and are estimated to go to $300-400/tonnes in 2010 (http://www.metalbulletin.com/Article/2316696/NonFerrous/Chrome-ore-prices-to-hit-300-400-cif-in-2010-Yildrim.html). Prices fluctuate significantly by grade.