[SMM Analysis] the strike at the port of Transnet in South Africa has calmed down the sharp increase in chromium ore imports in April, which has led to a sharp increase in difficult ore prices.-Shanghai Metals Market

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[SMM Analysis] the strike at the port of Transnet in South Africa has calmed down the sharp increase in chromium ore imports in April, which has led to a sharp increase in difficult ore prices.

Translation 03:37:08PM May 31, 2019 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, 31 May: according to the South African Independent Media website on May 29, the South African Transport Workers Union (Satawu) said in a statement on Tuesday that Transnet National Port Authority workers will go on strike on Wednesday, which will lead to the complete closure of South African ports. Satawu said the strike included all ports in South Africa, including Durban, Richard Bay, Cape Town, Port Elizabeth, Saldania Bay, Moser Bay and East London. The striking workers are mainly pilots, tugboat crew and ship maintenance engineers. It is reported that the main focus of the strike is the wage gap between black and white sailors.

On the 31st, the Central African News reported that the South African Transport and United Workers Union (Satawu) said the general strike previously planned in Transnet on the morning of Thursday, May 30, would be suspended. It is understood that the main purpose of the strike is to undermine the day-to-day operation of the port. A South African union spokesman said they went on strike to protest the wage gap between white and black workers. Transnet went to the labor court on Wednesday, May 29, and recommended that the court ban strikes by September. The Labour Court retained their decision and urged the companies concerned and the Transnet to resolve their differences as soon as possible.

The union's Zanele Sabela said workers would not be allowed to go on strike without authorization until the court ruled. "the Transnet must address this problem because racist pay in such a large state-owned enterprise will not be favored by the outside world. And if we continue to strike, the situation in the port will turn out to be very bad. Company leaders need to treat and pay their employees fairly. "

It is reported that the grassland and highland complex structure in South Africa is the most abundant area of chromium ore resources in the world. According to the World Chrome Industry Association, global chromium ore identified resources of about 11.5 billion tons, of which reserves exceed 480 million tons. South Africa, as the country with the most abundant chromium ore resources in the world, has identified 8.6 billion tons of chromium ore resources, accounting for 74.8 percent of the total global resources. The Bushveld complex, located in northeastern South Africa, is the largest source layer of chromium deposits in the world. The chromium ore resources are shallow and of good quality.

The share of chromium ore imports in 2018:

In 2018, South African chromium ore imports accounted for 72.06%, Turkish chromium ore imports accounted for 7.47%, Oman chromium ore imports accounted for 3.01%, according to SMM research, South African and Turkish mine shipments are relatively stable, with the adjustment of factory production formula, On the other hand, the proportion of Oman blocks is gradually decreasing.

Import of chromium ore from South Africa:

According to customs data, China's chromium imports rose 81 per cent in April from a month earlier, up 26.49 per cent from a year earlier to 1.62 million tons, including 1.265 million tons in South Africa and 126500 tons in Turkey. According to the SMM survey, the South African chromium ore has a high ratio of performance to price, with the improvement of the factory production process, the proportion of South African chromium ore used in some factories is as high as 80%. The strike at the port in South Africa has no impact on the transport of chromium mines for the time being, but if the strike lasts for more than half a month, it will affect the arrival time of chromium mines in South Africa. However, considering the substantial increase in chromium ore imports in April and the high stocks in the port of Tianjin, It will not have an impact on factory production, making it more difficult to boost mining prices, SMM continued to pay attention.

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[SMM Analysis] the strike at the port of Transnet in South Africa has calmed down the sharp increase in chromium ore imports in April, which has led to a sharp increase in difficult ore prices.

Translation 03:37:08PM May 31, 2019 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, 31 May: according to the South African Independent Media website on May 29, the South African Transport Workers Union (Satawu) said in a statement on Tuesday that Transnet National Port Authority workers will go on strike on Wednesday, which will lead to the complete closure of South African ports. Satawu said the strike included all ports in South Africa, including Durban, Richard Bay, Cape Town, Port Elizabeth, Saldania Bay, Moser Bay and East London. The striking workers are mainly pilots, tugboat crew and ship maintenance engineers. It is reported that the main focus of the strike is the wage gap between black and white sailors.

On the 31st, the Central African News reported that the South African Transport and United Workers Union (Satawu) said the general strike previously planned in Transnet on the morning of Thursday, May 30, would be suspended. It is understood that the main purpose of the strike is to undermine the day-to-day operation of the port. A South African union spokesman said they went on strike to protest the wage gap between white and black workers. Transnet went to the labor court on Wednesday, May 29, and recommended that the court ban strikes by September. The Labour Court retained their decision and urged the companies concerned and the Transnet to resolve their differences as soon as possible.

The union's Zanele Sabela said workers would not be allowed to go on strike without authorization until the court ruled. "the Transnet must address this problem because racist pay in such a large state-owned enterprise will not be favored by the outside world. And if we continue to strike, the situation in the port will turn out to be very bad. Company leaders need to treat and pay their employees fairly. "

It is reported that the grassland and highland complex structure in South Africa is the most abundant area of chromium ore resources in the world. According to the World Chrome Industry Association, global chromium ore identified resources of about 11.5 billion tons, of which reserves exceed 480 million tons. South Africa, as the country with the most abundant chromium ore resources in the world, has identified 8.6 billion tons of chromium ore resources, accounting for 74.8 percent of the total global resources. The Bushveld complex, located in northeastern South Africa, is the largest source layer of chromium deposits in the world. The chromium ore resources are shallow and of good quality.

The share of chromium ore imports in 2018:

In 2018, South African chromium ore imports accounted for 72.06%, Turkish chromium ore imports accounted for 7.47%, Oman chromium ore imports accounted for 3.01%, according to SMM research, South African and Turkish mine shipments are relatively stable, with the adjustment of factory production formula, On the other hand, the proportion of Oman blocks is gradually decreasing.

Import of chromium ore from South Africa:

According to customs data, China's chromium imports rose 81 per cent in April from a month earlier, up 26.49 per cent from a year earlier to 1.62 million tons, including 1.265 million tons in South Africa and 126500 tons in Turkey. According to the SMM survey, the South African chromium ore has a high ratio of performance to price, with the improvement of the factory production process, the proportion of South African chromium ore used in some factories is as high as 80%. The strike at the port in South Africa has no impact on the transport of chromium mines for the time being, but if the strike lasts for more than half a month, it will affect the arrival time of chromium mines in South Africa. However, considering the substantial increase in chromium ore imports in April and the high stocks in the port of Tianjin, It will not have an impact on factory production, making it more difficult to boost mining prices, SMM continued to pay attention.

"[investment must see] Trade friction news flying all over the metal how to win in chaos?

"Click to enter the registration page

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business