Jan. 5, 2011 - AlbanianMinerals expect chrome ore prices to rise by 20% in 2011.
AlbanianMinerals President Mr, Mujaj said "Steel ingredient ferrochrome will test new high prices in 2011 as production fails to keep pace with a jump in global demand for steel. The current stockpiles of Ferrochrome in China, Europe, Japan, US and Russia are too low to fill the gap".
Rising prices of oil and coal is affecting prices for steel, Iron ore, ferrochrome and chrome ore for production and transportation.
Chrome ore price is expected to rise as winter will affect chrome ore mining in Albaniae, Turkey, India and Russia and Kazakhstan.
Prices of steel and ferrochrome will go up due to Jump in demand in China, India, Turkey , Brazil and Germany and the Chinese government s power rationing policy to meet its energy saving target which began at the beginning of September.
AlbanianMinerals expect steel prices to rise by 20% in 2011. The rise in oil, coal, raw material and freight rates generally drive metal prices upwards.
Steel demand is expected to pick this year and into the next year. AlbanianMinerals expected that steel prices will rise and demand will resumes through this year, iron ore, chrome ore and ferrochrome prices will increase by 20% to 25 % in 2011
