| Chromium Ore and Ferrochromium Production |
Ferrochromium to see more activity in second half of January
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| The European ferrochromium market remains quiet and traders do not expect much improvement until the second-half of the month. Prices remain at the same level as before the Christmas holiday period. Low-carbon material is trading at $1.85-$1.90/lb and high-carbon ferrochromium is $0.90-$1.00/lb. A price increase of 5%-10% is expected. SBB Daily Briefing, Stainless Edition, 14 January 2010. |
Chromium ore rallies as Chinese restock for Q1 alloy production
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| Strong demand from China and increased costs in South Africa have seen chromium ore prices rally by an average of $20/t since the beginning of 2010. South African friable lumpy chromium ore, basis 35-40% Cr2O3, is trading at $200-$220/t, LG6 ore, basis 42% Cr2O3, is $205-$225/t, and UG2 ore, basis 40% Cr2O3, is $180-$200/t. Turkish ore is trading at $310-$330/t cfr main Chinese ports. Ferrochromium prices have also picked up and producers are optimistic of a higher charge chrome contract price for the second quarter. Traders are cautioning that the rapid rise in ore and alloy prices may not be sustainable. Metal Bulletin Daily, 18 January 2010, p 1, 19 January 2010, p3. |
Chinese high-carbon ferrochromium prices take a breather
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| Chinese sales of high-carbon ferrochromium have slowed down and the price remains unchanged from a week ago. Traders report that ferrochromium producers have sufficient stocks of ore and there is about 1.6 Mt of chromium ore stockpiled in Chinese ports. Market sentiment has softened after Baosteel bid 7900 yuan/t for February material, lower than the anticipated 8000/t. A Sichuan ferrochromium producer claims that production costs have reached 8000 yuan/t, based on current ore prices. Metal Bulletin Daily, 19 January 2010, p 3. |
Outokumpu’s Kemi mine holds more chromium than estimated
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| Outokumpu reports that its Kemi mine in northern Finland could contain “significantly greater” mineral resources than previously estimated. The mine has proven ore reserves of 37 Mt and the mineral resource has been upgraded to 87 Mt. This would ensure “mining for hundreds of years with doubled annual production volumes”. Outokumpu has plans to expand its mining operations, depending on the demand in the market and on securing stable electricity prices. Kemi’s annual production is about 1.3 Mt. It produces chromite concentrates for the ferrochromium smelter at Tornio. Tornio produces 270 kt/y of high-carbon ferrochromium, 90% of which is used in Outokumpu’s stainless steel production. SBB Daily Briefing, Stainless Edition, 20 January 2010. |
Canadian tribes freeze miners out of chromite deposit
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| Members of indigenous tribes in Canada, backed by mining company Noront Resources, are planning to prevent exploration of the Ring of Fire chromite deposit until they secure a share of the benefits. The deposit was bought by Cliffs Natural Resources in December 2009 and the purchase was hotly contested by Noront. The tribes people have blockaded the ice airstrips and roads, the use of which guarantees them an income. They say the blockade will continue indefinitely until their demands are met. SBB Daily Briefing, Stainless Edition, 20 January 2010. |
India raises chromium ore export prices by $75
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| India has raised its chromium ore export prices by $75/t for January-March due to tight supplies. The Minerals and Metals Trading Corp has raised the price of friable ore grading 48%-50% Cr2O3 to $335/t fob, and to $330/t fob for concentrate of the same grade. Metal Bulletin Daily, 20 January 2010, p 3. |
IFM forecasts stronger ferrochromium market as production rises
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| International Ferro Metals (IFM) forecasts a stronger ferrochromium market later in the year as demand for stainless steel improves. The company announced an 85% increase in production to 57.94 kt for the three months ending December 2009. The figure for the corresponding period in 2008 was 31.3 kt. Metal Bulletin Daily, 21 January 2010, p 3. |
