Resumen de CHROMIUM 2018: Foundry chromite market ‘on the cusp’ as bearish sentiment persists
The widespread perception among participants is that the foundry chromite market may be about to turn after a year characterized by supply tightness and high prices.Participants active in the foundry grade chromite sector have suggested that the market may be experiencing a change in direction, with supply reacting to meet demand after a year of shortages and rising prices. During the latest market downturn in 2015 and early 2016, several producers that were operating underground mines in South Africa closed, dogged by depressed prices and oversupply.This took a substantial chunk of foundry sand supply out of the market and created a gap that has never really been filled. Market participants in conversation with Fastmarkets pointed to the US-China trade war; the economic slowdown in several western countries at the end of the year; industrial activity easing after a strong start to the year; and a slowdown in the automotive market.
