South Africa's ferrochrome exports in March were 321,500 tons, and the domestic ferrochrome oversupply is difficult to change [SMM analysis]

According to South African customs statistics, South Africa's high-carbon ferrochrome exports in March 2024 were 321,500 tons, a decrease of 52,900 tons or 14.13% month-on-month; a year-on-year decrease of 113,500 tons, a decrease of 26.09%. In March, South Africa exported 110,700 tons of high-carbon ferrochrome to China, a decrease of 51,100 tons or 31.56% month-on-month; a year-on-year decrease of 78,800 tons, a decrease of 41.59%.
According to SMM, although South Africa's ferrochrome exports declined slightly in March, they still maintained a high level. Although the output of stainless steel has increased in the traditional consumption season, the domestic ferrochrome steel price in March is still flat, and the price is low in terms of cost, and the attraction of overseas ferrochrome is low. It is rumored that the steel recruitment in April rose sharply, or there was a shortage of imported iron, but affected by the high price of steel recruitment, the operating rate of domestic ferrochrome manufacturers rose sharply, and the domestic output broke through the historical peak.