Earthquake in Turkey might Aggregate Tight Chrome Ore Supply in China

SHANGHAI, Feb 8 (SMM) - In the early hours of February 6 (local time), a massive earthquake hit southern Turkey and northern Syria, killing more than 7,000 people. Turkey's main chrome ore producing area, Adana Province in the south, was greatly stricken by the earthquake. Many ports in south-eastern Turkey also suffered serious damage, causing delays and even suspension. It is expected that the country's exports of chrome ore will be affected.

As a major producer of chrome ore, Turkey produced about 7 million mt of chrome ore in 2021, accounting for 16.9% of the global total. According to statistics from the General Administration of Customs, China imported a total of 947,800 mt of chrome ore from Turkey, accounting for 6.33% of its total import volume.

At present, China's chrome ore inventory is already at a historically low level. The market is concerned about chrome ore supply tightness when the port arrivals are low in January-February while the consumption is likely to post a strong recovery.

Although the Turkish earthquake has not impacted the spot market of chrome ore so far, the damage to the port and the disruption of shipments may intensify the shortage of chrome ore in China.