In August 2024, South Africa's chrome ore export volume was 1.6481 million mt, down 298,000 mt MoM, a decrease of 15.31%; down 70,700 mt YoY, a decrease of 4.11%. In August, South Africa exported 69.7 mt of chrome ore to China, down 279,400 mt MoM, a decrease of 28.62%; down 115,600 mt YoY, a decrease of 14.22%.
According to SMM, in August, South Africa's chrome ore export volume significantly declined MoM, but the annual export volume remained at a historical high. During this period, the overseas market price of chrome ore remained high, but the domestic ferrochrome market began to show signs of sluggish transactions and weak prices. Although ferrochrome production remained high, the cautious attitude towards purchasing high-priced chrome ore raw materials led to a corresponding decrease in South Africa's chrome ore exports. Entering October, the ferrochrome market underwent further changes. With a significant drop in ferrochrome steel tender prices, domestic ferrochrome manufacturers reduced production and maintenance, leading to a further decline in demand for chrome ore. Additionally, the expected winter off-season consumption also puts pressure on the domestic chrome ore market, making it difficult to maintain the previous strong trend.
