South Africa: Chromite exports up 6% y-o-y in CY'21

South Africa recorded 17.7 million tonnes (mnt) of overseas sales of chromite (chrome ore and ferro chrome) in CY'21 as against 16.7 mnt in CY'20, a 6% y-o-y rise, as per customs data maintained with SteelMint.

Chrome ore exports up marginally
South African chrome ore exports were recorded at 13.6 mnt in CY'21, marginally up by 1% as against 13.4 mnt in CY'20. This slight rise was mainly because of the increase in imports by Mozambique.

• Exports to China slump: South African exports to China slumped 15% y-o-y to 7.1 mnt in CY'21 from 8.4 mnt in CY'20. The fall in exports to China was mainly because of weak import demand for the raw material due to restrictions in ferro chrome production owing to the dual control policy norms imposed by the government.
  
  
• Exports to Mozambique rise, Hong Kong down: Chrome ore exports to Mozambique rose by 36% y-o-y to 4.7 mnt in CY'21. On the other hand, exports to Hong Kong fell by 28% y-o-y to 0.26 mnt in CY'21.
  
  

Ferro chrome exports up 28% y-o-y in CY'21

South Africa's ferro chrome exports increased by 28% to 4.13 mnt in CY'21 from 3.22 mnt in CY'20. China remained the largest importer with 1.20 mnt in CY'21 but the volumes decreased by 5% y-o-y as against 1.26 mnt in CY'20 owing to low demand.

As global ferro chrome prices were at historical highs due to supply crunch and container shortage, South Africa was more focused on exporting ferro chrome over chrome ore in CY'21. Also, exports were high y-o-y due to lower exports in CY'20 owing to the Covid-19 outbreak.