South Africa needs a 40% tax on exports of chrome ore while it grapples with rising electricity costs from Eskom and a subdued demand outlook, according to Afarak's chief operating officer, Danko Koncar.
The price for ferro-chrome, high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe slumped to a ten-year low of $0.70-0.80 per lb in August this year, amid a surplus of material and macroeconomic headwinds, including limited demand from the stainless steel sector. When inflation is taken into account, chrome prices are sitting at all-time lows, Koncar told delegates at Fastmarkets' International Ferro-alloys...