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| World Production Of Ferro-Chrome In Jul. - Sep. / 09 Quarter Improved Considerably |
| = Returned To Scale Of 15% Reduction From That In Same Quarter 2008 |
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It was known that the world output of ferro-chrome in July - September quarter of 2009 recovered up to a scale of 15.2% reduction compared with that actually produced in the same quarter of 2008. According to a preliminary report compiled and released recently by ICDA (International Chrome Development Association), the quantity of ferro-chrome produced in the world for July - September quarter of 2009 was 1,849,000 tons, having decreased by 15.2% compared to that (2,181,000 tons) for the same quarter of 2008. For a reference, the quantities of ferro-chrome produced in the world for the first 9 months (January - September) of 2009 and broken down by items were as per the table attached hereto. In this connection, the world production of ferro-chrome in the first half (January - June) of 2009 was 2,505,000 tons, which had a considerable decrease of 45.6% compared to that (4,599,000 tons) in the same period of 2008. A wave to reduce production of stainless steel on the worldwide scale has surged the global production of ferro--chrome, having resulted in a decline of the world demand for ferro-chrome. The reason, why the world output of ferro-chrome in July - September quarter of 2009 recovered up to a scale of 15% reduction in comparison with that in the same quarter of 2008, was due to the gradually loosened reduction in production of stainless steel commenced from April to May. Also, in consequence of that major stainless steel companies endeavored to decrease their stocks of ferro-chrome, the supplementary purchases of ferro-chrome by these major stainless steel mills, mainly in Europe, have come up to the surface from summer of this year. The production of ferro-chrome in Southern Africa (mainly in South Africa) had been reduced with the most severe extent but suddenly turned to improve substantially from July - September quarter. Usually, July - September quarter is winter season in South Africa and higher fees of electric power are applied but the output of ferro-chrome in South Africa for July - September quarter of 2009 recovered up to a level of 18.3% reduction from that for the same quarter of 2008. Owing to a substantial reduction in production of ferro-chrome implemented in the first half of 2009, the stocks of ferro-chrome at producers have reached the bottom and, in spite of winter season, South African producers were required to have increased their production of ferro-chrome. |
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| last modified : Wed 25 Nov, 2009 [10:03] |
