03-Mar-2021 Download Article Share Via :

Indonesian ferrochrome use expands 20% in 2020

 

Chrome is an essential raw material in all stainless steel grades. In ball park terms, up to half comes from recycling and the balance comes in the form of ferrochrome. WBMS has comprehensive data on ferroalloys in general, this edition of Stats Corner shows the latest ferrochrome data.

Chart 1 - Production of ferrochrome

Chart 1 - Production of ferrochrome

Chart 1 shows ferrochrome (FeCr) production in thousand metric tons (kt) for calendar years 2019 and 2020. Production fell by 2% in 2020 to 14.1 million tons (Mt). China, by far the largest producer, accounted for 6.3 Mt or 45% of global production. China’s production fell by 1%. S. Africa’s production fell by 7% to 3.0 Mt and accounted for 21% of the global total. Kazakhstan’s production was unchanged at 1.7 Mt and 12% of the global total. Fourth ranked India with 7% share was little changed at 0.9 Mt. The next three producing countries each accounted for around 3% global share with Finland and Russia little changed, but Indonesia registering a 3% gain. Zimbabwe registered a 25% fall in production and Brazil a 50% gain. Others accounted for only 3% and the top four were: Sweden, Turkey, Albania and Oman.

Chart 2 - Exports of ferrochrome

Chart 2 - Exports of ferrochrome

Chart 2 shows FeCr exports. Global exports declined by 10% to 6.2 Mt. S. African exports fell by 11% to 3.2 Mt and were just over 50% of global exports. Kazakh exports increased by 4% to 1.5 Mt, nearly 25% of the global total. India’s exports fell by 15% to 0.7 Mt or 11% share. Finland’s exports of 0.3 Mt or 5% of the total trade were little changed. So these four countries accounted for over 90% of global exports. Of note is the 70% decline in others. This is mainly Zimbabwe, where exports fell from 290 kt in 2019 to zero in 2020.

Chart 3 - Imports of ferrochrome

Chart 3 - Imports of ferrochrome

Chart 3 covers imports. China’s imports were unchanged at 3.1 Mt or 50% of imports. Indonesian imports increased by 14% to 0.8 Mt (13%). Together, these two countries account for almost two thirds of global imports. Japan’s imports fell by almost a quarter to 0.5 Mt (8% of total). S. Korea’s were down 16% at 0.4 Mt and the USA down by 19%. As Chart 3 shows the declines were generally around 20% for the other remaining importing countries.

In summary, global exports in Chart 2 declined from 7.0 Mt in 2019 to 6.2 Mt in 2019 (-10%). Global imports in Chart 3 fell from 6.6 Mt in 2019 to 6.1 Mt in 2020 (-7%). Bearing in mind time lags, this is a reasonable match.

Chart 4 - Use of ferrochrome

Chart 4 - Use of ferrochrome

Chart 4 covers use. Global use of ferrochrome fell by 3% in 2020 to 14.2 Mt. Realistically, we should consider China and Indonesia together as it is a JV with China operating in the latter. In this case the two account for 75% of global ferrochrome use. Use in China was little changed from the previous year, but it increased 20% in Indonesia. Japan was the third largest user but fell 20% year on year. Use in S. Korea fell 15%, USA by 20% and Belgium and Finland by similar amounts. There are many more countries using FeCr than producing it and so others appear high. The main ‘others’ are: Brazil, Sweden, Italy, India, Germany, Taiwan, S. Africa and Spain.

 

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Editors requiring more detailed information should contact Sue Eales by email at suee@world-bureau.co.uk or by telephone +44 (0) 1920 461274

 

Disclaimer

Whilst every effort is made to ensure the accuracy and validity of the information contained in this release WBMS and its Board of Directors can accept no responsibility for any losses incurred as a direct result of any actions based on conclusions drawn from the data.

 

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All data herein may be copied freely, duplicated and further distributed provided that WBMS is cited as the source.

Editors requiring more detailed information should contact Sue Eales by email at suee@world-bureau.co.uk or by telephone +44 (0) 1920 461274

Disclaimer

Whilst every effort is made to ensure the accuracy and validity of the information contained in this release WBMS and its Board of Directors can accept no responsibility for any losses incurred as a direct result of any actions based on conclusions drawn from the data.

Terms of Use

All data herein may be copied freely, duplicated and further distributed provided that WBMS is cited as the source.

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