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Global Supply And Demand Of Ferro-Chrome In 2010 Will Be Balanced
= Speech Delivered By Onal Sales Manager Of Eti Krom At International Conference
At the 3rd International Stainless Steel Trade Summit held on the beginning of February in Dubai of United Arab Emirates, Mr. Cengiz Onal, who is Sales Manager of Eti Krom in Turkey and was one of guest speakers at this conference, delivered his speech, saying that a global prospect of ferro-chrome in 2010 will be <> consumption : 7,880,000 tons, <> production : 7,770,000 tons and <> resulting in a balance. The contents of a speech made by Onal Sales Manager are summarized as follows ;

(1) The supply and demand of ferro-chrome in the world in 2010 are estimated to be <> consumption : 7,880,000 tons (to increase by 17% from that in 2009) and <> production : 7,770,000 tons (to increase by 33% from that in 2009) as mentioned above. For a reference, the steel industry of the world consumed 6,738,000 tons of ferro-chrrome in 2009 (decreased by 1% from that in 2008) and, on the other hand, the ferro-alloy industry of the world produced 5,835,000 tons of ferro-chrome in 2009 (decreased by 22% from that in 2008). The quantities of ferro-chrome forecasted to be produced and consumed in the world in 2010 are as per the table attached hereto.

(2) The stainless steel industry is the largest consumer of ferro-chrome and a revival in production of stainless steel has turned to be remarkable in Europe, the USA, Japan and South Korea. In addition, China has been increasing their production of stainless steel on a basic tone since 2009 and this whole aspect is multiplying the world consumption of ferro-chrome.

(3) The total quantity of ferro-chrome to be consumed in China and other Asian countries in 2010 is anticipated to share a 65% of the world consumption (comprising of 37% by China and 28% by other Asian countries). For a reference, the western world had shared a 45% of the world consumption of ferro-chrome in 2009.

(4) The quantity of ferro-chrome consumed by China in 2009 came to a nearer scale to 3,500,000 tons, consisting of domestic production and imported cargoes, but the quantity of ferro-chrome produced in China in 2009 was smaller than that imported into China in the same year, because China imported 2,000,000 tons of ferro-chrome in 2009. However, the quantity of ferro-chrome to be consumed in China in 2010 is anticipated to exceed a scale of 3,700,000 tons on an annualized base but China is expected to produce 1,900,000 tons per annum of ferro-chrome in 2010. Accordingly, a portion of the imports is supposed to remain as unchanged from that in 2009.

(5) The world output of crude stainless steel in 2010 is forecasted to come to 28.50 million tons by an increase of 14.8% from that (24.828 million tons) in 2009. In spite of the fact that China increased their production of crude stainless steel in 2009 to a wonderful extent, the world output of crude stainless steel in 2009 had converged to a lower scale that in 2005 but a recovery in production of stainless steel in such countries as Japan, South Korea, India and Taiwan will turn to be remarkable in 2010. Also, reflecting an expansion of car manufacturing, the output of chrome-based stainless steel in 2010 is expected to increase to 1,500,000 tons per annum, which will share 26.3% of the whole production of stainless steel, having exceeded largely 23.3% of that in 2009. For a reference, the share of nickel - chrome based stainless steel occupied in the whole production of stainless steel in 2010 is estimated to be 61.7% (compared with 63.1% in 2009) and that of chrome-manganese based stainless steel in 2010 is anticipated to be 12% (compared to 13% in 2009).

(6) The annual quantity of ferro-chrome to be consumed by China is estimated to share 37% of the world consumption. Also, in order to comply with this substantial consumption of ferro-chrome in China, the strategical quantities of chrome to be stockpiled in China have a possibility to require 1,500,000 - 2,000,0000 tons of chrome ore and 700,000 -1,000,000 tons of ferro-chrome.
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last modified : Mon 15 Feb, 2010 [11:02]
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