Metal Price To Go Up In China, India, U.S. Europe And Japan

According to Albanian Minerals CEO Sahit Muja: Ferrochrome price is expected to go up in US, China, India, Europe and Japan. Do to the the tight supply. Ferrochrome is an essential alloy in the production of stainless steel. U.S., China and European Union, Japan has no chrome ore production or significant reserves.

Mr. Muja said, " China overtook South Africa to become the largest producer of ferro-chrome worldwide. Chinese ferrochrome output has been based on imported raw materials, mainly from Albania, South Africa , India, Pakistan, Iran, Turkey and Oman. The ferrochrome alloy is produced by smelting chrome ore, China has no reserves of chrome ore. The demand for chromium metal , Chrome ore to rise by more than 10% in 2015 do to growing demand in stainless steel industry".


Sahit Muja said: China having almost no domestic chrome reserves, nearly all of the ferrochrome produced in China relies on imported chrome. From 2004 to 2014, China’s production of high carbon ferrochrome increased by nearly 10 times, from around 450,000 tons to over 4 million tons in 2014, this production still cannot meet domestic demand. China consumed 5.7 million tonnes of ferrochrome in 2013 and is estimated near 6 million tons on 2014. China need to export over 10 million ton of chrome ore to meet growing demand.


Chrome ore, ferrochrome is a metallurgical extremely important metal and has no substitute. Chromium brings amazing properties to the steel and other metals with which it is alloyed. Add it to carbon steel in the form of ferrochrome and the steel becomes stainless steel corrosion resistant, mechanically strong, heat resistant, hard wearing, shiny and glamorous. Stainless steel is used everywhere in modern life from nuclear reactors,, oil, natural gas infrastructure equipments and pipes, medical equipments, construction, manufacturing, cars, railroad, airplane, military equipments, architecture, and thousands other applications applications.


According to IMF global economic growth recovery continues. The growth forecast for the world's economy is 3.3 percent in 2014 .

The global growth projection for 2015 is 3.8 percent. Chinese President Xi Jinping said China's will maintain strong, sustainable and balanced growth, state media reported. China's gross domestic product growth rate is expected over 7 percent in 2014 and 2015.

According to Oxford, The U.S. economy to do well in 2015 with about 3 % growth driven in part, by manufacturing momentum and rising employment, some of which is reaching decade highs.

Europe, The Oxford Economics predicts growth of a little over 1% in 2015. Already, employment numbers in the second quarter of 2014 were the strongest in the past six years, and retail sales were up as well. Oxford Economics sees India as the strongest of the BRIC countries in 2015. Good growth numbers of 5.6 percent are expected, driven by the election of a pro-business government.