28.05.2008, 10:19 16472

World market prices for chrome increased

World market prices for chrome have increased. Average spot price for low-carbon ferrochromium (chrome content 68 - 70 %, carbon - 0.10 %) has gone up for the last days.

Almaty. May 28. Kazakhstan Today - World market prices for chrome have increased. Average spot price for low-carbon ferrochromium (chrome content 68 - 70 %, carbon - 0.10 %) has gone up for the last days.

The increase of price for chrome in the world market has reasons: energy crisis in the Republic of South Africa that produces 45 % of world ferrochromium, introduction by India of quotas on export of chromic raw materials, fast growth of manufacture of steel in China, and strong earthquake in China has caused closing of the largest factories in the country on manufacture of ferrochromium in Sichuan Province.

The prices for chromic ore have also grown at fast rates. The ports have scarce cash stocks, thus, many enterprises have run out of goods that in the view of invariable great demand causes increase of prices.

One of world leaders in ferrochromium production is Kazakhstan raw holding Eurasian Natural Resources Corporation (ENRC), which constantly strengthens its positions in the world market.

In April, 2008 ENRC has finished transaction on purchase of control share holding of Serov factory of ferroalloys in Russia, which produces a wide range of ferroalloys.

The experts consider that increase of prices for ferrochromium will proceed during 2008 due to increase in manufacture of stainless steel and growth of production costs. According to SOGRA forecasts, world consumption of ferrochromium this year will also increase. ENRC Company forecasts growth of demand for ferrochromium in the world due to growing consumption of stainless steel.

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