South Africa: Chromite exports remain stable y-o-y in CY’22

South Africa recorded 17.51 million tonnes (mnt) of overseas sales of chromite (chrome ore and ferro chrome) in calendar year 2022 (CY22) as against 17.7 mnt in 2021. The volumes were almost stable with a marginal drop of 1% y-o-y, as per Customs data maintained with SteelMint. The marginal drop in chromite exports was mainly because of the strike at South Africa’s ports and freight rail restricted ore exports from the country in October-November 2022. In addition, electricity crises also impacted chromite production during CY22.

Chrome ore exports inch up 

South African chrome ore exports were recorded at 14.1 mnt in CY22, up by 4% as against 13.6 mnt in CY21. This slight rise was mainly because of the increase in imports by Hong Kong.

• Exports to China slump: South African exports to China dropped 3% y-o-y to 7 mnt in CY22 from 7.2 mnt in CY21. The fall in exports to China was mainly because of weak import demand for the raw material to restrictions on ferro chrome production owing to high temperatures.
• Exports to Mozambique, Hong Kong rise: Chrome ore exports to Mozambique increased by 11% y-o-y to 5.22 mnt in CY21. Moreover, exports to Hong Kong significantly increased by 249% y-o-y to 0.92 mnt in CY22.

Ferro chrome exports down 17% y-o-y in CY’22
South Africa’s ferro chrome exports dropped by 17% to 3.44 mnt in CY22 from 4.13 mnt in CY21 owing to the power crises. China remained the largest importer with 1.27 mnt in CY22 with volumes increasing 6% y-o-y as against 1.20 mnt in CY21.