Second-quarter ferrochrome price rises to higher level
JOHANNESBURG (miningweekly.com) – The European benchmark ferrochrome price has been settled at $1.14/lb for the second quarter of 2020, Merafe Resources advised shareholders on Wednesday.
This latest European benchmark price is an increase of 12.9% on the $1.01/lb price in the first quarter of 2020, the JSE-listed company said in a stock exchange news service announcement.
Mining Weekly can report that China imported approximately 79% of its chrome ore in 2019, from South Africa, compared with 76% in 2018.
Ninety per cent of the ferrochrome produced is used in stainless steel and specialty steels.
Stainless steel production grew from 51.4-million tonnes in 2018 to 51.9-million tonnes in 2019.
Approximately 3.6-million tonnes of the world's ferrochrome production of 14-million tonnes was supplied by South Africa in 2019, Merafe states on its website, where it adds that more than 72% of the world's chrome reserves are in South Africa.
The South African chrome industry provides approximately 200 000 direct and indirect jobs.
The focus of Merafe, headed by CEO Zanele Matlala, is on the 20.5% participation of its wholly owned subsidiary, Merafe Ferrochrome and Mining, in the earnings before interest, taxes, depreciation and amortisation of the Glencore-Merafe Chrome Venture, in which Glencore has a 79.5% participation.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation