Albanian Minerals CEO Sahit Muja said: The ferrochrome and iron ore demand to strengthen in 2015, supported by a global rise in stainless steel production and demand . Ferrochrome is a key raw materials for making stainless steel.
” The global chrome ore seasonal production during winter months is in its lowest level in 10 years”. Albanian Minerals CEO Sahit Muja said.
The ferrochrome inventories in U.S, Japan, Europe also are in the lowest level in 2014. Ferrochrome demand and the price is expected to incriase 10% in 2015.
China and South African world’s largest producers of ferrochrome usually cuts ferrochrome production during the winter months when electricity tariffs were higher.
According to Mr. Muja, The stainless steel demand in the U.S, China, India, North Africa and Europe to improve in 2015, do to huge investment in the infrastructure, energy sector and manufacturing sectors. China’s steel demand is also expected to improve on the back of railroad projects, energy investments, residential construction, growing automotive production and manufacturing sector. In 2013 over 38 million metric tons of stainless steel was produced worldwide.
“Global stainless steel production is predicted to reach an all-time high of 41 million tonnes in calendar year 2014 and 43 million tons in 2015. The total output for 2014 is forecast to be higher than last year in China, EU, United States, Japan . The demand for stainless steel has doubled in the last ten years, with production increasing to more than 25 million tonnes a year”. Sahit Muja said.
According to Merafe Resources, Global ferrochrome production increased by 8% to approximately 10.3 million tonnes of ferrochrome in 2013. Chrome ore is a metallurgical marvel. It brings amazing properties to the metals with which it is alloyed. Add it to carbon steel in the form of ferrochrome and the steel becomes “stainless” – corrosion resistant, mechanically strong, heat resistant, hard wearing, shiny and glamorous. Stainless steel is used everywhere in modern life from nuclear reactors to exhaust pipes, architecture, kitchenware and a host of other applications.
China’s steel exports hit a new record high in 2014, China’s total exports over January-October to 74 million tons up 42% year-on-year. China’s steel exports to be at the record high at over 90 million tons in 2014.
Albanian Minerals CEO Sahit Muja said, Stainless steel production in China to increase by 12% during in 2014 and 14% in 2015 compared to the same period .
European stainless steel demand will continue its upward trend in 2015, supported by improvement in major end markets and restocking, says Moody’s Investors Service.
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