Original Story Published by: David Whitehouse, www.theafricareport.com
Photo Source: Philimon Bulawayo/Reuters
(Above) Chromium demand comes at the right time for faltering Zimbabwe.
Beneath the surface of its latest economic crisis, Zimbabwe has been quietly positioning itself as a future major exporter of chromium to the insatiable Chinese market.
Chinese demand for chromium is mainly driven by stainless steel, of which it is the world’s largest consumer. The country does not have its own chromium reserves and relies on imports. Chromium is concentrated in South Africa, Kazakhstan, India, Zimbabwe, the US and Turkey. South Africa is the largest producer of chrome, and a majority of the country’s production goes to China.
Zimbabwe has the world’s second-largest chromium reserve, with about 12% of the global total, Technavio says in its report Global Ferrochrome Market Analysis – Size, Growth, Trends, and Forecast 2019–2023.
- The company forecasts that Chinese demand will stay firm in the coming years due to increased infrastructure spending, such as on urban rail projects.
That means that China needs to diversify its sources of chromium and ferrochrome (an alloy of chromium and iron). Zimbabwe is well placed to benefit.
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