INTL FERRO-ALLOYS CONF: South African ferro-chrome producers need ore export tax to get market share

South Africa needs a 40% tax on exports of chrome ore while it grapples with rising electricity costs from Eskom and a subdued demand outlook, according to Afarak’s chief operating officer, Danko Koncar.

The price for ferro-chrome, high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe slumped to a ten-year low of $0.70-0.80 per lb in August this year, amid a surplus of material and macroeconomic headwinds, including limited demand from the stainless steel sector.

When inflation is taken into account, chrome prices are sitting at all-time lows, Koncar told delegates...

Published

Charlotte Radford

November 19, 2019

07:53 GMT

Budapest