Zimbabwe’s chrome exports tipped to grow

10

ZIMBABWE’S chrome and chromium exports are this year seen firming on growing demand from China, a local securities trading firm has said.
According to the Zimbabwe Statistics Agency, chromium ore and concentrate exports rose to US$45,6 million during 2020 compared to US$45 million in the previous year. During that same period ferrochromium (iron and chrome) exports fell from US$218,9 million to US$139,4 million.

“We forecast a correction in chrome and chromium contribution to mining export earnings following a slump in prices in 2020 as China, a major market, ramps up production in stainless steel output,” IH Securities said in a recent report, titled Zimbabwe 2021 Equity Strategy