Challenges for the Ferroalloys Sector

Cristina Bumbac

Revista de Economie Mondiala / The Journal of Global Economics, 2014, vol. 6, issue 1

Abstract: Basic ferroalloys are some of the most important ingredients for producing carbon and special steel (using ferrochrome and other special ferroalloys). The market of basic ferroalloys is somehow independent of other raw materials markets, depending mostly of steel. There are sometimes speculative operations, but they do not have a significant impact on prices. Producers are concentrated in countries and regions where metals (manganese, silicium or silicon, chromium) deposits can be found: mostly Africa, China and Latin America. On the other side, consumption is concentrated in Europe and the USA, recently also within the BRIC countries. This situation generates conflicts, especially about prices and long term contracts. The spot market is quite volatile and dominated by traders. The atypical crisis which began at the end of 2007 had not a significant impact on basic ferroalloys prices until 2012. By contrast, 2013 was a very difficult year for ferroalloys, with small prices and a precarious economic situation worldwide.

Keywords: basic ferroalloys; ferroalloys prices; ferroalloys market; steel; chromium; ferromanganese; silicon ferroalloys; ferromolibdenum; ferrovanadium; China; India; South Africa (search for similar items in EconPapers)
JEL-codes: E02 E20 E23 E27 E30 E31 E60 (search for similar items in EconPapers)
Date: 2014
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