South Africa's ferrochrome exports remain high and domestic supply may continue to be loose

According to South African Customs statistics, South Africa's high-carbon ferrochrome exports in February 2024 were 374,400 tons, a month-on-month increase of 48,700 tons, an increase of 19.77%; a year-on-year increase of 48,700 tons, an increase of 14.96%. In February, South Africa exported 161,800 tons of high-carbon ferrochrome to China, a month-on-month increase of 57,200 tons, an increase of 54.76%; a year-on-year increase of 75,500 tons, an increase of 87.48%.
According to Hainan West Asia, South Africa's ferrochrome exports continued to remain high in February. However, due to the domestic Spring Festival holiday, stainless steel production fell, and domestic ferrochrome supply was severely oversupplied from January to February. Domestic ferrochrome manufacturers continued to decline, and steel bidding prices remained stable. Stable operation. Steel bidding prices rose sharply in April, and domestic ferrochrome manufacturers were stimulated to start operations with great enthusiasm. Domestic ferrochrome production in April will exceed 700,000 tons. In addition, the stainless steel market has continued to operate weakly recently, and steel mills' production schedules are expected to fall. For overseas ferrochrome Demand is expected to fall.
For more information on ferroalloy price trends and market conditions, please contact Hainan West Asia Group.

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