Global stainless steel at all-time high of 35 million tonnes in 2011
Global stainless crude steel production in the ten months of 2011 reached an all-time high .
The highest stainless steel production year-on-year growth was 18% in China .
The Europe and Africa region increased stainless steel production by 6.4% .
The Americas has a increase of stainless steel production of 6.9% .
Albanian Minerals President and CEO said ” I expect stainless steel production to hit 40 million tons in 2012 “.
According to Albanian Minerals CEO the stainless steel industry has left the global crisis behind as production reached a new record of 32.2 million tonnes in 2010 .
The surprisingly high volume results from a stronger than expected production China and India .
Albanian Minerals CEO said “Surging demand and prices is expected for chrome ore, ferrochrome used in making ferroalloy, which in turn is used in making stainless steel”.
Albanian Minerals CEO said “The chrome ore and ferrochrome prices to incriase do to strong demand and problems with ban and the production”
The low prices of chrome ore ha led to a severe shortage of global chromite production in 2011.
Such supply condition may drive up prices of ferrochrome and chrome ore in 2012.
Also chrome ore shortage in China is expected as Zimbabwe has banned the export of chrome ore.
The concerned over the depleting reserves of chrome ore in India the steel ministry has demanded a complete ban on chrome ore exports.
The winter conditions allow mining of chromite to be conducted only from May to November in open pit mining this will effect the global chrome ore production.
Ferrochrome production for metallurgical applications uses up more than 90% of the worlds chrome ore.
South Africa accounts for about 50% of global chromite, chrome ore production, followed by Kazakhstan, India, Turkey ,Albania and Zimbabwe .
Albanian Minerals CEO said “Demand for chrome ore, iron ore and ferrochrome is expected to remain strong in 2012 mainly due to the continued growth of China’s stainless steel industry.
Albanian Minerals and Bytyci SHPK is emerging as one of the major European suppliers of chrome ore to global markets.