South Africa's High-Carbon Ferrochrome Exports Rebound, But Weak Demand in the Chinese Market Affects Outlook [SMM Analysis]

Published: Jan 8, 2025 17:57

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[SMM Analysis: South Africa's High-Carbon Ferrochrome Exports Rebound, But Weak Demand in the Chinese Market Affects Outlook] According to South African customs statistics, South Africa's high-carbon ferrochrome exports in October 2024 totaled 1.91 million mt, down 844,000 mt MoM (a decrease of 29.59%) and down 1.01 million mt YoY (a decrease of 34.6%). In October, South Africa exported 405,000 mt of high-carbon ferrochrome to China, down 855,000 mt MoM (a decrease of 67.85%) and down 533,000 mt YoY (a decrease of 56.81%)...

SMM, January 8:

According to South African customs statistics, South Africa's high-carbon ferrochrome exports in November 2024 reached 267,300 mt, up 75,900 mt (39.68% MoM) but down 77,500 mt (22.47% YoY). In November, South Africa exported 63,500 mt of high-carbon ferrochrome to China, up 23,000 mt (56.71% MoM) but down 85,200 mt (57.32% YoY).

According to SMM, South Africa's ferrochrome exports rebounded in November but remained at relatively low levels. Cumulative exports for the year decreased by 9.93% YoY. Meanwhile, China's domestic ferrochrome production significantly increased, leading to a severe surplus, sluggish sales, and continuous price declines. This situation reduced demand for imported ferrochrome and kept its prices at low levels. Overseas countries may opt to export chrome ore directly to achieve higher economic benefits. Currently, domestic ferrochrome inventory remains high, and market expectations are pessimistic. South Africa's ferrochrome export volumes are expected to remain at low levels in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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