Turkey's ferroalloy imports fell by almost 19 percent in 2009. Total imports were 314,661 metric tons according to figures from the Turkish Statistical Institute (TUIK).
Ferromanganese imports were 46,760 metric tons, down 36.22 percent on 2008; ferrosilicon imports were 62,655 metric tons, down 14.54 percent; ferrosilicon-manganese imports were 193,324 metric tons, down 1.18 percent; and ferrochrome imports totalled 2,786 metric tons, down by 98.58 percent.
Ferroalloy imports from the CIS countries accounted for 77 percent of total ferroalloy imports, while imports from Europe constituted 9.6 percent and Asian countries 8.5 percent.
Showing posts with label Turkey. Show all posts
Showing posts with label Turkey. Show all posts
Friday, February 19, 2010
Tuesday, January 5, 2010
Eti Krom Sells Chrome Ore Production To End February
Within 3 weeks of releasing its chrome ore sales prices for Q1 of 2010, Turkey's ETI KROM has sold 140,000 tonnes of chrome ore to China and contracts will be fulfilled until end of February.
ETI KROM had declared its 42% grade lumpy chrome ore price for January and February as USD 310 per tonne to USD 320 per tonne and USD 330 per tonne to USD 340 per tonne respectively.
Within three weeks company received enquiries for more than 300,000 tonnes for Q1 deliveries. After negotiations, ETI KROM signed contracts with customers for prices of USD 315 per tonne to 325 per tonne on a 42% basis for 140,000 tonnes.
ETI KROM revised its February and March prices to USD 340 to 350 per tonne and USD 360 to 370 per tonne respectively, mainly because of transportation cost increases and winter conditions.
Source: Steel Guru
ETI KROM had declared its 42% grade lumpy chrome ore price for January and February as USD 310 per tonne to USD 320 per tonne and USD 330 per tonne to USD 340 per tonne respectively.
Within three weeks company received enquiries for more than 300,000 tonnes for Q1 deliveries. After negotiations, ETI KROM signed contracts with customers for prices of USD 315 per tonne to 325 per tonne on a 42% basis for 140,000 tonnes.
ETI KROM revised its February and March prices to USD 340 to 350 per tonne and USD 360 to 370 per tonne respectively, mainly because of transportation cost increases and winter conditions.
Source: Steel Guru
Thursday, December 31, 2009
Turkish Chrome Ore Market In A Bullish Mood
Asian Metal reports that now many Turkish chrome ore suppliers are offering lumpy chrome ore 42% at above USD 300 per tonne CIF CFR China due to the tight supply in such a winter condition. Meanwhile, the Pakistani chrome ore market follows Turkish chrome ore trend with a high price level.
A major producer in Turkey reported to Asian Metal that the chrome ore market is bullish, as they have received many recent enquiries from Chinese buyers. According to the source, he signed contracts with a total quantity of 80,000 tonnes and their price range for lumpy chrome ore 40% to 42% was between USD 315 and USD 325 per tonne CFR China.
He said that "I heard many Turkish chrome ore suppliers increase their offers for lumpy chrome ore 42% to above USD 300 per tonne CFR China due to tight supply in such a special season." He added that as the supply in the following weeks would be tighter and tighter, the price of Turkish chrome ore market is likely to go up further.
A Turkish chrome ore trader offered about USD 300 per tonne CIF China for 2,000 tonnes of lumpy chrome ore 42% to 40% recently.
The trader said that "Although we received many enquiries from Chinese buyers and those buyers ask for USD 10 to USD 15 per tonne lower than our offers, we would rather watch the market than sell our stocks at low prices. I think Chinese buyers will come back to accept our prices in January."
A Pakistani chrome ore trader informed that they offered for 1,000 tonnes of lumpy chrome ore 40% to 42% at about USD 300 per tonne CIF Chinese main ports recently, but there was no deal concluded with Chinese buyers recently.
According to the source, they sold 1,000 tonnes of the material at about USD280 per tonne CIF Shanghai port a week ago. It added that "Now we refuse to sell the material at below USD290 per tonne CIF CMP, as we expect higher chrome ore prices next month, just following Turkish chrome ore market trend."
Source: Steel Guru/Asian Metal
A major producer in Turkey reported to Asian Metal that the chrome ore market is bullish, as they have received many recent enquiries from Chinese buyers. According to the source, he signed contracts with a total quantity of 80,000 tonnes and their price range for lumpy chrome ore 40% to 42% was between USD 315 and USD 325 per tonne CFR China.
He said that "I heard many Turkish chrome ore suppliers increase their offers for lumpy chrome ore 42% to above USD 300 per tonne CFR China due to tight supply in such a special season." He added that as the supply in the following weeks would be tighter and tighter, the price of Turkish chrome ore market is likely to go up further.
A Turkish chrome ore trader offered about USD 300 per tonne CIF China for 2,000 tonnes of lumpy chrome ore 42% to 40% recently.
The trader said that "Although we received many enquiries from Chinese buyers and those buyers ask for USD 10 to USD 15 per tonne lower than our offers, we would rather watch the market than sell our stocks at low prices. I think Chinese buyers will come back to accept our prices in January."
A Pakistani chrome ore trader informed that they offered for 1,000 tonnes of lumpy chrome ore 40% to 42% at about USD 300 per tonne CIF Chinese main ports recently, but there was no deal concluded with Chinese buyers recently.
According to the source, they sold 1,000 tonnes of the material at about USD280 per tonne CIF Shanghai port a week ago. It added that "Now we refuse to sell the material at below USD290 per tonne CIF CMP, as we expect higher chrome ore prices next month, just following Turkish chrome ore market trend."
Source: Steel Guru/Asian Metal
Sunday, December 20, 2009
Turkish Ferroalloy Imports Fall In October
According to customs statistics compiled by the Turkish Statistical Institute in October 2009, Turkey imported 17,800 tonnes of ferroalloys decreasing its imports of the products in question by 44.2% as compared to September.
In October the country's ferromanganese imports declined by 84.38% reaching 939 tonnes, ferrosilicon imports totalled 4,046 tonnes decreasing by 44.33% while ferrosilicomanganese imports amounted to 11,712 tonnes down 34.77% all compared to September.
Source: Steel Guru
In October the country's ferromanganese imports declined by 84.38% reaching 939 tonnes, ferrosilicon imports totalled 4,046 tonnes decreasing by 44.33% while ferrosilicomanganese imports amounted to 11,712 tonnes down 34.77% all compared to September.
Source: Steel Guru
Tuesday, December 8, 2009
Ferrochrome Producers Reducing Output
TEX reports that the movements to reduce production of ferrochrome are enlarging. Both companies of Assmang and Samancor Chrome in South Africa have entered into the structure to reduce their production of ferrochrome and, following these reductions in South Africa, Eti Krom of Turkey has also moved to reduce their production of ferrochrome.
Eti Krom announced on the end of last week that this reduction in production of ferrochrome has been implemented immediately. Eti Krom had so far operated the facilities by 80% of total capacity but has now decreased this operation rate to 50% of the capacity. Assmang of South Africa already said that one small electric furnace is suspended to operate from the end of November.
Also, Samancor Chrome has possessed 16 electric furnaces but a number of electric furnaces under operations in November has decreased to 10 furnaces.
According to a preliminary report compiled and released by International Chrome Development Association, the world output of high carbon ferrochrome in July to September quarter of 2009 was 1,713,000 tonnes, up by 22.2% QoQ as compared with that of 1,401,000 tonnes in the preceding quarter of April to June 2009 quarter.
The production activities of stainless steel in China have stalled and, since such major stainless steel companies as Taiyuan iron & Steel, Baosteel and Zhangjiagang Pohang Stainless Steel have been reducing their production by reason of maintenance of their facilities, the output of stainless steel in China for October to December quarter is anticipated to have a decline of 13% to 15% from that for the preceding quarter of July to September.
Also, the production of stainless steel in Europe was once forecasted to expand but the reality is supposed to be unable to increase as expected. Furthermore, the output of stainless steel products in Japan still depends on exports and, accordingly, one of leading stainless steel companies in Japan is moving to reduce their production from November.
Source: Steel Guru/Tex
Eti Krom announced on the end of last week that this reduction in production of ferrochrome has been implemented immediately. Eti Krom had so far operated the facilities by 80% of total capacity but has now decreased this operation rate to 50% of the capacity. Assmang of South Africa already said that one small electric furnace is suspended to operate from the end of November.
Also, Samancor Chrome has possessed 16 electric furnaces but a number of electric furnaces under operations in November has decreased to 10 furnaces.
According to a preliminary report compiled and released by International Chrome Development Association, the world output of high carbon ferrochrome in July to September quarter of 2009 was 1,713,000 tonnes, up by 22.2% QoQ as compared with that of 1,401,000 tonnes in the preceding quarter of April to June 2009 quarter.
The production activities of stainless steel in China have stalled and, since such major stainless steel companies as Taiyuan iron & Steel, Baosteel and Zhangjiagang Pohang Stainless Steel have been reducing their production by reason of maintenance of their facilities, the output of stainless steel in China for October to December quarter is anticipated to have a decline of 13% to 15% from that for the preceding quarter of July to September.
Also, the production of stainless steel in Europe was once forecasted to expand but the reality is supposed to be unable to increase as expected. Furthermore, the output of stainless steel products in Japan still depends on exports and, accordingly, one of leading stainless steel companies in Japan is moving to reduce their production from November.
Source: Steel Guru/Tex
Tuesday, October 20, 2009
ETI Reports Ferrochrome Oversupply
ETI Krom of Turkey is satisfied by the fourth quarter charge chrome contract price of 103 US cents per pound/Cr with European steelmakers even though the cost structure during July to December 2009 has been changed significantly.
Mr Robert Yuksel Yildirim president & CEO of ETI Krom said that "A 14 US cents per pound rise over third quarter levels will only cover some parts of those adjusted costs."
The price represents, perhaps more than usual, a reference point from which sizeable discounts will apply. Two months ago FeCr producers were confident that spot prices would continue to firm on the back of an improvement in contract prices. However, in reality this has not been the case at the moment.
Turkey is also among the countries which are suffering from a very weak USD and the appreciated TRL is also weighing a lot on our production costs. Despite ETI Krom believes that the mid and long term outlook is positive and better than 2009, he sees no reason today to run their furnaces at full capacity in Turkey."
Mr Yildirim said that "The European alloy steel and stainless steel output has still not yet fully recovered, so we see no reason today to build up FeCr stocks. We try to watch very closely the developments and demand at the market. We are reviewing our current strategy according to current market indications and eager to run our furnaces at half capacity."
Source: Steel Guru
Mr Robert Yuksel Yildirim president & CEO of ETI Krom said that "A 14 US cents per pound rise over third quarter levels will only cover some parts of those adjusted costs."
The price represents, perhaps more than usual, a reference point from which sizeable discounts will apply. Two months ago FeCr producers were confident that spot prices would continue to firm on the back of an improvement in contract prices. However, in reality this has not been the case at the moment.
Turkey is also among the countries which are suffering from a very weak USD and the appreciated TRL is also weighing a lot on our production costs. Despite ETI Krom believes that the mid and long term outlook is positive and better than 2009, he sees no reason today to run their furnaces at full capacity in Turkey."
Mr Yildirim said that "The European alloy steel and stainless steel output has still not yet fully recovered, so we see no reason today to build up FeCr stocks. We try to watch very closely the developments and demand at the market. We are reviewing our current strategy according to current market indications and eager to run our furnaces at half capacity."
Source: Steel Guru
Monday, August 17, 2009
Turkey Chrome Exports Up 40%
According to Turkish government statistics, Turkey exported 276,647 tonnes of chrome ore in July 2009, up by 40% YoY as compared with July 2008.
Russia, which imported 5,050 tonnes of chrome ore in July and 63,003 tonnes during January to July 2009 period, became the second biggest Turkish chrome ore importer.
In addition, Turkey exported 13,066 tonnes of ferrochrome in July, with 12,852 tonnes having been shipped to China.
During January to July 2009 period, 55,472 tonnes of ferrochrome were exported, up by 67% YoY as compared to the same period of 2008.
Source: Steel Guru
Russia, which imported 5,050 tonnes of chrome ore in July and 63,003 tonnes during January to July 2009 period, became the second biggest Turkish chrome ore importer.
In addition, Turkey exported 13,066 tonnes of ferrochrome in July, with 12,852 tonnes having been shipped to China.
During January to July 2009 period, 55,472 tonnes of ferrochrome were exported, up by 67% YoY as compared to the same period of 2008.
Source: Steel Guru
Saturday, July 18, 2009
Vale In Agreements With Ilva And Erdemir
Brazilian miner Vale said on Friday it has reached an iron ore price agreement with Italian steelmaker Ilva, cutting pellet prices by 48.3 percent and fine ore by 28.2 percent.
Separately, Vale said it also reached an agreement with Turkey's largest steelmaker Erdemir for the same price reductions on pellet prices and fine ore.
Iron ore prices are set each year through a benchmarking system based on bilateral negotiations between steelmakers and the world's three principal iron miners -- Vale and Australian giants BHP Billiton and Rio Tinto.
Vale has not yet finished key price talks with Chinese steel mills following months of tough negotiations and the detention of Rio mining executives that has created diplomatic tensions between China and Australia.
Source: Reuters
Separately, Vale said it also reached an agreement with Turkey's largest steelmaker Erdemir for the same price reductions on pellet prices and fine ore.
Iron ore prices are set each year through a benchmarking system based on bilateral negotiations between steelmakers and the world's three principal iron miners -- Vale and Australian giants BHP Billiton and Rio Tinto.
Vale has not yet finished key price talks with Chinese steel mills following months of tough negotiations and the detention of Rio mining executives that has created diplomatic tensions between China and Australia.
Source: Reuters
Wednesday, May 27, 2009
Ruuki May Sell Shares To South African Investors
Ruukki Group Oyj, the Finnish investment group, plans to buy platinum assets and may sell shares to investors in South Africa next year to fund acquisitions.
“We are actively pursuing discussions with several players,” Alwyn Smit, Espoo-based Ruukki’s chief executive officer, said in an interview yesterday. “We may well consider a capital raising next year when we list.”
Ruukki is spinning off its wood businesses to focus on natural resources. Many of its assets will be in South Africa, where the company plans a secondary listing in the first half next year, Smit said.
Ruukki is already buying South African ferrochrome producer Mogale Alloys Ltd. and part of that plant could be converted to process platinum ore, Smit said. South Africa is the largest producer of platinum, used in jewelry and autocatalysts.
“We’re looking for investments that will be cash generative in the relatively near term, and in the current market circumstances,” Smit said. “It’s a good time for us to be looking around,” he said, adding that several smaller mining companies are currently “struggling.”
While Ruukki, about 30 percent-owned by Kermas Ltd., has funds and no debt, an acquisition may trigger a capital increase, Smit said. The company may also consider other acquisitions in ferrochrome and nickel, both used in stainless steel.
Ruukki will boost chrome-ore production capacity at its Turkish operation by about 75 percent to 70,000 metric tons a year after last week approving a project to extract the metal from waste rock, Smit said. The plant would take nine or 10 months to build and production costs would be less than half current levels, he said.
Source: Bloomberg
“We are actively pursuing discussions with several players,” Alwyn Smit, Espoo-based Ruukki’s chief executive officer, said in an interview yesterday. “We may well consider a capital raising next year when we list.”
Ruukki is spinning off its wood businesses to focus on natural resources. Many of its assets will be in South Africa, where the company plans a secondary listing in the first half next year, Smit said.
Ruukki is already buying South African ferrochrome producer Mogale Alloys Ltd. and part of that plant could be converted to process platinum ore, Smit said. South Africa is the largest producer of platinum, used in jewelry and autocatalysts.
“We’re looking for investments that will be cash generative in the relatively near term, and in the current market circumstances,” Smit said. “It’s a good time for us to be looking around,” he said, adding that several smaller mining companies are currently “struggling.”
While Ruukki, about 30 percent-owned by Kermas Ltd., has funds and no debt, an acquisition may trigger a capital increase, Smit said. The company may also consider other acquisitions in ferrochrome and nickel, both used in stainless steel.
Ruukki will boost chrome-ore production capacity at its Turkish operation by about 75 percent to 70,000 metric tons a year after last week approving a project to extract the metal from waste rock, Smit said. The plant would take nine or 10 months to build and production costs would be less than half current levels, he said.
Source: Bloomberg
Saturday, May 9, 2009
Eldorado Gold Expects To Hit Full-Year Output
Vancouver-based Eldorado Gold still expects to produce its forecast 330,000 oz of gold this year, despite a weaker first quarter, the company said on Friday.
As expected, output during the first three months of the year was negatively affected by the commissioning of the sulphide ore processing facility at the company's Tanjianshan mine, in China, as well as exceptionally high rainfall at the Kisladag operation, in Turkey.
Eldorado produced 61,426 oz of gold from the two mines, compared with 67,234 oz in the first quarter of 2008.
Although cash operating costs increased to $296/oz, from $213/oz a year earlier, the company is still one of the lowest cost gold producers, said CEO Paul Wright.
Eldorado posted net income of $13.06-million for the first quarter, compared with $20.74-million in the same period of 2008.
Revenue decreased 24%, to 52.2-million, due to lower sales volumes and selling prices.
The company has completed construction at its new Vila Nova iron ore mine, in Brazil, and will complete plant commissioning this month.
However, the project will then be put on care and maintenance, “until global demand for iron ore increases and prices recover from current declines”, Eldorado said.
Engineering and procurement at the Efemcukuru gold project, in Turkey, remains on schedule, although construction slowed somewhat during the first quarter, due to the extremely wet weather.
Source: Mining Weekly
As expected, output during the first three months of the year was negatively affected by the commissioning of the sulphide ore processing facility at the company's Tanjianshan mine, in China, as well as exceptionally high rainfall at the Kisladag operation, in Turkey.
Eldorado produced 61,426 oz of gold from the two mines, compared with 67,234 oz in the first quarter of 2008.
Although cash operating costs increased to $296/oz, from $213/oz a year earlier, the company is still one of the lowest cost gold producers, said CEO Paul Wright.
Eldorado posted net income of $13.06-million for the first quarter, compared with $20.74-million in the same period of 2008.
Revenue decreased 24%, to 52.2-million, due to lower sales volumes and selling prices.
The company has completed construction at its new Vila Nova iron ore mine, in Brazil, and will complete plant commissioning this month.
However, the project will then be put on care and maintenance, “until global demand for iron ore increases and prices recover from current declines”, Eldorado said.
Engineering and procurement at the Efemcukuru gold project, in Turkey, remains on schedule, although construction slowed somewhat during the first quarter, due to the extremely wet weather.
Source: Mining Weekly
Thursday, March 19, 2009
Indian Ferroalloy Manufacturer To Invest In Central Turkey
A leading Indian company is planning to invest in the central Anatolian province of Sivas.
India's leading ferro alloys manufacturer IMFA Group is getting prepared to make an investment in Sivas, a province home to rich underground reserves, a statement from the Chamber of Commerce and Industry of Sivas (TSO) said on Thursday.
IMFA Group will cooperate with Turkey's Yazici Group while making the investment, the statement said.
IMFA Group's Director General Arvind Mishra paid a visit to TSO's headquarters as part of his research on the investment opportunities in Sivas and held talks with the chamber's chairperson Osman Yildirim on Thursday.
During the visit, Yildirim said that a vacant land would be allocated to IMFA group free-of-charge at the Organized Industrial Zone of Sivas, and the company would later construct a factory on it.
Based in the eastern State of Orissa well known for its rich natural resources, IMFA is India's largest, fully integrated producer of Ferro Alloys with 157 MVA installed furnace capacity, a 108 MW coal-based Captive Power Plant and extensive Chrome Ore mining tracts.
Source: Turk Net
India's leading ferro alloys manufacturer IMFA Group is getting prepared to make an investment in Sivas, a province home to rich underground reserves, a statement from the Chamber of Commerce and Industry of Sivas (TSO) said on Thursday.
IMFA Group will cooperate with Turkey's Yazici Group while making the investment, the statement said.
IMFA Group's Director General Arvind Mishra paid a visit to TSO's headquarters as part of his research on the investment opportunities in Sivas and held talks with the chamber's chairperson Osman Yildirim on Thursday.
During the visit, Yildirim said that a vacant land would be allocated to IMFA group free-of-charge at the Organized Industrial Zone of Sivas, and the company would later construct a factory on it.
Based in the eastern State of Orissa well known for its rich natural resources, IMFA is India's largest, fully integrated producer of Ferro Alloys with 157 MVA installed furnace capacity, a 108 MW coal-based Captive Power Plant and extensive Chrome Ore mining tracts.
Source: Turk Net
Friday, March 6, 2009
Taiyuan Iron & Steel Forms Turkish Chrome Ore Mining JV
Chinese steelmaker, Taiyuan Iron & Steel, has formed a chrome ore mining joint venture in Turkey along with Shanxi Jizhong Wanbang Industrial Trade Co Limited and a local company.
Taiyuan Steel will control 37.2% of the new company along with Shanxi Jizhong Wanbang and the Turkish CVK Group Corporation.
It is Taiyuan Steel' first overseas joint venture.
Taiyuan Steel will control 37.2% of the new company along with Shanxi Jizhong Wanbang and the Turkish CVK Group Corporation.
It is Taiyuan Steel' first overseas joint venture.
Thursday, February 19, 2009
European Nickel Signs Caldag Debt Facility
European Nickel Plc has signed a $350 million debt facility with two Chinese partners to fund the Caldag mine in Turkey> The new facility, announced on Thursday, will enable the project to be funded through to production
One of the partners, Jiangxi Rare Earth and Rare Metals Tungsten Group Co Ltd (JXTC), will acquire a 20 percent stake in the Caldag project for $20 million. JXTC will also buy 50 percent of the mine's nickel production, though this off-take agreement requires approval from BHP Billiton, who currently buy all Caldag's nickel output.
European Nickel indicated that BHP will be willing to grant the release and is interested in keeping its entitlement to the remaining 50 percent of the mine's output.
Total development costs of Caldag have increased to $428 million from $300 million on higher fees and operating costs and lower nickel price forecasts.
One of the partners, Jiangxi Rare Earth and Rare Metals Tungsten Group Co Ltd (JXTC), will acquire a 20 percent stake in the Caldag project for $20 million. JXTC will also buy 50 percent of the mine's nickel production, though this off-take agreement requires approval from BHP Billiton, who currently buy all Caldag's nickel output.
European Nickel indicated that BHP will be willing to grant the release and is interested in keeping its entitlement to the remaining 50 percent of the mine's output.
Total development costs of Caldag have increased to $428 million from $300 million on higher fees and operating costs and lower nickel price forecasts.
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