SMM, January 8:
According to South African customs statistics, South Africa's high-carbon ferrochrome exports in November 2024 reached 267,300 mt, up 75,900 mt (39.68% MoM) but down 77,500 mt (22.47% YoY). In November, South Africa exported 63,500 mt of high-carbon ferrochrome to China, up 23,000 mt (56.71% MoM) but down 85,200 mt (57.32% YoY).
According to SMM, South Africa's ferrochrome exports rebounded in November but remained at relatively low levels. Cumulative exports for the year decreased by 9.93% YoY. Meanwhile, China's domestic ferrochrome production significantly increased, leading to a severe surplus, sluggish sales, and continuous price declines. This situation reduced demand for imported ferrochrome and kept its prices at low levels. Overseas countries may opt to export chrome ore directly to achieve higher economic benefits. Currently, domestic ferrochrome inventory remains high, and market expectations are pessimistic. South Africa's ferrochrome export volumes are expected to remain at low levels in the short term.
