Chrome ore import at Ningbo port surges

Chrome ore import at Ningbo port surges

China's second largest coastal port, Ningbo, in eastern China's Zhejiang province, saw a sound increase in chrome ore imports due to the expansion of the country's stainless steel production capacity. The port saw 316'000 tons of chrome ore imports through January-August 2005. The imports came in 25 batches and carried a combined trade value of $6 million. Those figures are a marked increase from the same period in 2004, when the port handled six batches of chrome ore weighing a total of 42'340 tons and carrying a trade value of $740'000. India, Turkey and the Philippines have been the major countries exporting chrome ore to China. Chrome ore is widely consumed by the metal industry in the production of stainless steel and various alloy steel. China's domestic market mainly relies on imported chrome ore because the resources in the country are very tight.