Oil and energy drive up prices for steel, ferro-chrome, and iron ore

Feb. 20, 2012 - PRLog -- Sahit Muja: High Oil and energy prices to drive up prices for steel, ferro-chrome, and iron ore

South African, Indian and China's ferro-chrome suppliers have raised their offer prices to the global market.

High energy prices are impacting ferro-chrome and steel producers across the globe.
The price of ferro-chrome is up in U.S, EU, Japan and India.

High oil and gas prices now set the stage for even sharper increases in the costs for mining and transportation of iron ore, chrome ore ingredients for steel.
Chinese domestic high carbon ferro-chrome prices edged as high as $1270/t.

The average European benchmark ferro-chrome price is $1.25 per pound.
Albanian Minerals expects that global demand and prices for iron ore and ferro-chrome, a key ingredient for making stainless steel, is likely to continue to increase in 2012.

The Chinese steel industry has a record steel output in 2011 to meet soaring demand from infrastructure and social housing projects.

Strong economic growth and urbanization in China, India, Brazil and other nations are expected to create growing demand for steel in 2012 ".

The chrome ore and ferro-chrome prices will increase do to strong demand and problems with export ban and the high costs of production.
Also chrome ore shortage is expected as Zimbabwe has banned the export of chrome ore.

Many chrome ore companies have stoped mining chrome ore do to the winter conditions, this will effect the global chrome ore production.

The concern over the depleting reserves of chrome ore in India, the steel ministry has demanded a complete ban on chrome ore exports.
Such supply condition may driv prices of ferro-chrome and chrome ore up in 2012.

Ferro-chrome production for metallurgical applications uses more than 90% of the world's chrome ore.
South Africa accounts for about 50% of global chrome ore production, followed by Kazakhstan, India, Turkey, Albania and Zimbabwe .

Sahit Muja
President and CEO
Albanian Minerals
New York

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