Assore sees chrome oversupply through 2020, improvements in manganese

Assore expects chrome ore, ferro-chrome and stainless steel markets to remain oversupplied this year and for manganese ore prices to improve, the South African miner and alloy producer said on Friday February 21.

The company posted a 29% drop in profit to 2.10 million rand ($138,893) in the first half of its 2020 financial year ended December 31, 2019, citing lower chrome and manganese prices.
Chrome markets will remain oversupplied, meaning a significant price recovery is unlikely, the company said.

“The surplus in supply of stainless steel, ferro-chrome and chrome ore is predicted to persist for the remainder of FY20. As a result, limited potential exists for major price improvements for these commodities which will continue to suppress the...

Published

Janie Davies

February 25, 2020

11:18 GMT

London