2014-02-08 00:08:51 -
Albanian Minerals President and CEO Sahit Muja said chrome ore demand to rise about 10% in 2014.
Mr Muja said, World crude steel production reached 1,607 megatonnes (Mt) for the year 2013, up by 3.5% compared to 2012. The growth came mainly from Asia and Middle East while crude steel production in all other regions decreased in 2013 compared to 2012.The recovery in industrial activities in U.S, EU, China, Japan, India, Russia and Germany is good news for chrome ore sector. This is also evident from the increase in steel production in 2013.
Sahit Muja, President of Albanian Minerals and Bytyci SHPK said that “Globally, the demand for chrome ore has improved partly due to China’s consumption. In 2013, Chinese produced 4.17
million tons of ferrochrome which needs import of near 10 millions of tons chrome ore.
Mr Muja said Albanian Minerals in Albania, NY, Turkey, India, China, Oman and Brazil have receive more inquiries from companies to buy more chrome ore and ferro chrome”.
Sahit Muja said, Prices of chrome ore is expected to move up as demand is to pick up in 2014. Rising prices of oil and coal is affecting prices for steel, iron ore, ferrochrome and chrome ore for production and transportation.
Chrome ore prices are expected to rise as big winter have affected chrome ore mining in Albania, Turkey, India , South Africa, Pakistan, Iran, Russia and Kazakhstan.