Sydney, Australia-based ferrochrome producer International Ferro Metals' (IFM) CEO Chris Jordaan has said that industry experts expect the stainless steel market to grow at an average 6.8 percent per year to 2015, with a positive influence on the ferrochrome market.
"Our international markets continue to expand, with sales recorded for the first time to Japan and Sweden, and we will continue to maximize sales in higher margin countries," said Mr Jordaan, adding that IFM is well placed to benefit from the growth in stainless steel production.
Meanwhile, industry analysists expect that stainless steel production will remain strong and record production of 33 million mt in 2011 from 31.7 million mt in 2010. More than 50 percent of stainless steel growth is expected to emanate from China, with China therefore to lead demand growth of ferrochrome in the coming years.