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Challenges for the Ferroalloys Sector

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  • Cristina Bumbac

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.

Suggested Citation

  • Cristina Bumbac, 2014. "Challenges for the Ferroalloys Sector," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 6(1), March.
    • Handle: RePEc:iem:journl:v:6:y:2014:i:1:id:2822000009240023
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/140/153
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    More about this item

    Keywords

    basic ferroalloys; ferroalloys prices; ferroalloys market; steel; chromium; ferromanganese; silicon ferroalloys; ferromolibdenum; ferrovanadium; China; India; South Africa;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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