It’s reported that the export offer of ferrochrome from South Africa to Europe dropped by $10 cents/lb to $69 cents/lb, down by 57 percent compared with the level of $185 cents/lb due to continuing quiet market.

The main ferrochrome producers in South Africa, such as Samancor Chrome, Xstrata Alloys, Hernic Ferrochrome, IFM and Assmang (African Rainbow) has focused on adjusting inventory from last Q4 and operated on low production rate.

They also hold gloomy market outlook and predict 16 percent drop year-on-year in stainless steel global production to 22 million tons.