Albanian Minerals: Higher price for chrome ore and ferrochrome expected

Aug. 13, 2011 - PRLog -- Albanian Minerals:  Higher price for chrome ore and ferrochrome expected

High global steel output have supported chrome ore prices, ore prices have gone up by 5 per cent in past two weeks.
Global crude steel production surged to a record high in June and the key driver was China.

The rise in China steel output despite interest rate increase their indicates higher steel demand.

Albanian Minerals President and CEO Sahit Muja said "It is this demand which has supported the chrome ore and ferrochrome prices globally".

According to the World Steel Association (WSA), crude steel production by 64 countries rose to 128 million tonnes (mt) in June. It was eight per cent higher than June 2010.

In the same month, China produced 59.9 mt crude steel, an increase of 11.9 per cent over the corresponding month last year.
A relatively weak dollar on the backdrop of a debt-trapped US economy also kept sending green signals to commodity prices and supported the mineral chrome ore prices.  

Chrome ore and ferrochrome production is falling in South Africa due to reduced operating capacity, higher energy costs and labor problems.

Steel ingredient chrome ore - ferrochrome will test new high prices within the next quarter as production fails to keep pace with a jump in global demand for chrome ore and ferrochrome.

The  current stockpiles of Ferrochrome in China , Europe , Japan, US and Russia are too low to fill the gap.

Albanian Minerals President and CEO Sahit Muja "The  outlook for the chrome ore, ferrochrome used in stainless steel to prevent corrosion is further enhanced by rising output costs in top producer South Africa".

Due to a strong rand, higher power costs, labor and transportation problems".  
Rising prices of oil and coal  is effecting ferrochrome and  chrome ore production and transportation .

Steel demand is expected to pick up toward the end of the year and into next year.
Albanian Minerals expected that steel prices will  rise and demand growth will  resumes through next year
South Africa is the world’s largest ferro-chrome producer and is having big problems with energy.  

With power supply likely to be a problem for the world’s largest ferro-chrome producers, prices will definitely go up.
Steel prices are totally dependable from  iron ore, chrome ore, energy and  ferrchrome prices.
Albanian Minerals
New York

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Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe