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| South Africa's Exports Of Ferro-Alloys In CY 2008 Decreased By 10% |
| = Unit Price Of High Carbon FeCr Averaged On Exports In 2008 Rose By Double |
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According to the export statistics released in South Africa, the quantities and unit prices of ferro-alloys exported from South Africa in the calendar year (January - December) of 2008 were as per the table attached hereto. Namely, South Africa exported 4,549,000 tons in material of ferro-alloys in the calendar year of 2008, having decreased by 10% compared with that (5,004,000 tons) in the preceding year of 2007. However, the unit price averaged on exports in 2008 came to R.10,930 per metric ton, which doubled on Rand currency base compared to that (R.5,218 per ton) in 2007. On the basis of the exchange rate of US$1.00 : R.8.250 averaged on movements in 2008, the unit price of R.10,930 per metric ton comes to US$1,324.65 per ton. The exchange rate of South African Rand against US-Dollar averaged on movements in 2007 was US$1.00 : R.7.044 and, therefore, the unit price of R.5,218 per ton in 2007 corresponded to US$740.77. The quantities of ferro-alloys exported from South Africa in 2008 had been influenced largely by cut of 10% on supply of electric power caused by a crisis of electric power emerged on the end January of 2008. Also, a crisis of monetary market arisen in September of 2008 put a substantial damage on exports of South African ferro-alloys for shipments in October - December quarter of 2008. As regards the quantities of main ferro-alloys exported from South Africa in the calendar year of 2008, South Africa exported 3,207,000 tons of high carbon ferro-chrome in 2008, having decreased by 9% compared with that (3,525,000 tons) in the preceding year of 2007, but the average unit price of South African high carbon ferro-chrome exported in 2008 had risen to R.9,781 per metric ton of material (corresponding to US$1,185.57 = US$1.075 per lb. of Cr on Cr 50% base). For a reference, the unit price of South African high carbon ferro-chrome averaged on exports in 2007 was R.4,619 per metric ton of material (corresponding to US$655.73 = US$0.59 per lb. of Cr on Cr 50% base). The measure to cut electric power supply also influenced on exports of manganese ferro-alloys from South Africa and, in spite of the globally increased demand for manganese, South Africa exported only 514,000 tons of high carbon ferro-manganese in 2008, having decreased compared with that (553,000 tons) exported in 2007, and 542,000 tons of silico-manganese in 2008, which also had a decline from that (554,000 tons) in 2007. In the same case as that of manganese ferro-alloys, South Africa exported 11,358 tons in material of ferro-vanadium in 2008, which had a considerable decrease of 29% compared with that (15,992 tons) exported in 2007. South Africa is the second largest country in the word to produce vanadium, following Russia, but was driven to reduce their vanadium production to a large extent for the reason as mentioned above and this substantial decrease of vanadium production in South Africa caused to rise steeply vanadium prices in 2008. |
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| last modified : Wed 08 Apr, 2009 [10:20] |
