South Africa: Chromite exports up 4% m-o-m in Oct'21

South Africa recorded 14 million tonnes (mnt) of overseas sales of chromite in Oct'21 as against 13.4 mnt in Sep'21, a 4% m-o-m dip, as per customs data maintained with SteelMint.

Chrome ore exports rise 3.6% m-o-m in Oct'21
South African chrome ore exports were recorded at 10.6 mn t in Oct'21, marginally up 3.6% m-o-m as against 10.26 mn t in Sep'21. The marginal rise is mainly because of increase in imports by China and Turkey. Meanwhile, export volume registered 6% hike on a yearly basis in Jan-Oct'21.

• Exports to China rise: South African exports to China rose 15.3% m-o-m to 0.52 mn t in Oct'21 from 0.46 mn t in Sep'21. The upswing in exports to China in Oct'21 was mainly because an increased buying interest owing to improved ferro chrome production in China.
  
  
• Exports to Turkey surge: Turkey's chrome ore imports significantly surged by 489% m-o-m to 0.26 mnt from South Africa in Oct'21.
  
  
• Exports to India down: Ore exports to India fell by 90% m-o-m to 0.05 mn t in Oct'21. Low demand for ferro chrome during the month and sufficient inventory held by Indian producers hit chrome ore exports in Oct'21.
  
  

Ferro chrome exports up 4% m-o-m in Oct'21
South Africa's ferro chrome exports lifted by 4.2% to 0.34 mn t from 0.32 mnt in Sep'21. The upswing in exports was mainly because of surge in exports to USA (up 151%) and Italy (up by 78%).

China remained the largest importer with 0.81 mn t. However, exports to China decreased by 22% m-o-m in Oct'21 as against 1.4 mnt in Sep'21. An ease in electricity supply restrictions had improved ferro chrome production in China which further hit South African exports.

On a y-o-y basis, too, exports jumped by 7% to 3.4 mn t in Jan-Oct'21 from 3.22 mn t in the corresponding period last year.