Refined Ferro Chrome

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Refined Ferro Chrome
Analysis Of The Market For
Low & Medium Carbon Ferro ChromeLow Chrome

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  • 1. Low Carbon Ferro Chrome – Random Thoughts Refined Ferro Chrome Analysis Of The Market For Low & Medium Carbon Ferro Chrome Prabhash GokarnPrabhash Gokarn 1
  • 2. Low Carbon Ferro Chrome – Random Thoughts Presentation Structure • Analysis of Refined FeCr 3 • Use of Low Carbon Ferro Chrome 5 • Production Process 7 • Supply Demand Scenario 10 • Impacting On Price 17 • Rising demand & rising cost 18 • Main Producers 22 • Specifications of Ref FeCr 26Prabhash Gokarn 2
  • 3. Low Carbon Ferro Chrome – Random Thoughts Analysis of Refined FeCrPrabhash Gokarn 3
  • 4. Low Carbon Ferro Chrome – Random Thoughts Low-carbon ferro-chrome product range Cr C Si P S N Co Mn V Low-carbon ferro-chrome: LCFeCr 68- 0.03- max max max - - - - 73% 0.10% 1.5% 0.03% 0.02% 68- 0.015- max max max - - - - 73% 0.03% 1.5% 0.03% 0.02% LN LCFeCr Min max max max max max - - - 69% 0.05% 0.3% 0.025% 0.01% 0.02% High-chrome, low carbon ferro-chrome: HCr LCFeCr min max max max max max max (min 76.5% 76.5% 0.035% 1.5% 0.025% 0.01% 0.05% 0.03% - - Cr) HCr LCFeCr min max max max max max max max max (min 82% Cr) 82- 0.05% 1.5% 0.02% 0.01% 0.10% 0.02% 0.5% 0.3% 88% Low-carbon ferro-chrome, nitrided, molten LCFeCr N ca. max max max max 3-4% - - - 65% 0.10% 1.5% 0.03% 0.02%Prabhash Gokarn 4
  • 5. Low Carbon Ferro Chrome – Random Thoughts Use of Low Carbon Ferro ChromePrabhash Gokarn 5
  • 6. Low Carbon Ferro Chrome – Random ThoughtsPrabhash Gokarn 6
  • 7. Low Carbon Ferro Chrome – Random Thoughts Production ProcessPrabhash Gokarn 7
  • 8. Low Carbon Ferro Chrome – Random Thoughts Low-carbon ferro-chrome is generally produced by the three-stage Perrin process. In the first stage, ferrosilicochrome is produced in a submerged arc furnace, either by direct melting of ore, quartz and coke, or by smelting high-carbon ferro-chrome with quartz and coke. The ferrosilicochrome produced grades 25-36%Cr, 42-48%Si and around 0.05%C. A lime-ore melt is then produced from chrome ore and burnt lime in an open arc furnace. Finally, the ferro silico chrome is reacted with the molten lime-ore and the silica reduces chrome oxide to yield low- carbon ferro-chrome.Prabhash Gokarn 8
  • 9. Low Carbon Ferro Chrome – Random Thoughts Three- Three-stage Perrin process for LC FeCr 2 1 3Prabhash Gokarn 9
  • 10. Low Carbon Ferro Chrome – Random Thoughts Supply Demand Scenario Low Carbon FeCrPrabhash Gokarn 10
  • 11. Low Carbon Ferro Chrome – Random Thoughts LC FeCr : AOD Process saw LC FeCr demand plunge AOD process for Stainless SteelPrabhash Gokarn ………….. and now growing 11
  • 12. Low Carbon Ferro Chrome – Random Thoughts LC FeCr : Now Increasing - reasons Based on the trends in finished steel production, the largest markets for chromium in carbon steel are China, Japan, USA, Russia and Germany. The use of low-carbon ferro-chrome is higher in carbon steel than in other types of steel. The content of sulphur in high-carbon ferro-chrome is too high to enable its use in AISI 10 series carbon steel. The growing demand for clean steel is reflected in higher consumption of high-purity low-carbon ferro-chrome.Prabhash Gokarn 12
  • 13. Low Carbon Ferro Chrome – Random Thoughts LC FeCr : Initially Dipped and Now IncreasingPrabhash Gokarn 13
  • 14. Low Carbon Ferro Chrome – Random Thoughts LC & MC FeCr Supply Demand GapPrabhash Gokarn 14
  • 15. Low Carbon Ferro Chrome – Random Thoughts Demand Comes Mainly From Countries Making High Performance Alloy Steels Others Asia 7% 8% Europe USA 27% 58%Prabhash Gokarn 15
  • 16. Low Carbon Ferro Chrome – Random Thoughts Demand Comes Mainly From Sectors Using High Performance Alloy Steels Tools 2% Oil & gas Aerospace 2% 75% Automotive 6% Land-based turbines 15%Prabhash Gokarn 16
  • 17. Low Carbon Ferro Chrome – Random Thoughts Impacting On Price of Low Carbon FeCrPrabhash Gokarn 17
  • 18. Low Carbon Ferro Chrome – Random Thoughts LC FeCr Steep Rise in PricesPrabhash Gokarn 18
  • 19. Low Carbon Ferro Chrome – Random Thoughts Low carbon Ferro Chrome Supply ScenePrabhash Gokarn 19
  • 20. Low Carbon Ferro Chrome – Random Thoughts Caused by both rising demand for LC FeCr and rising production costPrabhash Gokarn 20
  • 21. Low Carbon Ferro Chrome – Random Thoughts Production Costs For Ferro-chrome Energy and raw material costs together, make up a large proportion of the cost of LC ferro-chrome production, varying locally with power tariffs and the availability of raw materials. Efficiency varies with ore grade, operating conditions and the production process. Therefore the location of a ferro- chrome plant is a trade-off between the supply and cost of raw materials and electrical energy. The results of an Outokumpu study published by USGS in 2006 suggest that production costs in Europe are split approximately 30% chrome ore,40% electricity, 20% reducing agent and 10% other costs. South African producers have traditionally had some of the lowest production costs for ferro-chrome worldwide, because of the advantages of abundant chrome ore reserves, locally available reductants, and competitive labour and power costs. South African energy prices have historically been very low in comparison to other ferro-chrome producing countries but increases in electricity costs (13.3% in 2008; 27.5% in 2009. 20-25% in 2010.Prabhash Gokarn 21
  • 22. Low Carbon Ferro Chrome – Random Thoughts Main Producers of L C FeCrPrabhash Gokarn 22
  • 23. Low Carbon Ferro Chrome – Random Thoughts Production of ferro-silico-chrome Production of ferro-silico-chrome, used as an intermediate product in the production of low-carbon ferro-chrome, by leading industry commentators. Production, broken down by country is given below. Production has increased year on year, following the pattern of low-carbon ferro-chrome production. Production of ferro-silico-chrome, 2002 to 2008 (t) 2002 2003 2004 2005 2006 2007 2008e Brazil 10,522 8,151 11,560 16,005 9,828 12,943 13,000 China 43,492 97,552 105,000 48,000 35,000 38,700 39,000 Kazakhstan 75,345 86,794 78,850 84,885 104,000 126,000 156,000r Russiae 3,328 6,121 8,483 74,150 92,404 97,915 98,000 Turkey 7,245 6,715 5,560 6,695 7,310 6,624 6,500 Zimbabwe - - - 2,117 1,023 3,097 3,000 Total 139,932 205,333 209,453 231,852 249,565 285,279 315,500 World ferro-silico-chrome production: Comparison of available data, 2002 to 2008 (t) 2002 2003 2004 2005 2006 2007 2008 Optimistic 139,932 205,333 209,453 231,852 249,565 285,279 315,500 ICDA 133,884 205,489 209,453 232,530 246,958 285,279 252,740 BCG 224,421 274,200 311,245 248,280 283,959 … …Prabhash Gokarn 23
  • 24. Low Carbon Ferro Chrome – Random Thoughts LC & MC FeCr Production By Country World: Production of low-carbon and medium-carbon ferro-chrome by country, 2001-2008 (kt) 2001 2002 2003 2004 2005 2006 2007 2008e Brazil 7.5 4.5 10.4 19.1 15.4 21.2 13.2 10.0 China 79.0 100.7 111.5 103.0 174.0 184.5 235.8 200.0 Germany 19.3 20.0 18.3 24.9 22.7 26.7 22.0 22.0 India - 1 - 1 - - - - - - Japan2 7.7 4.3 5.8 7.8 10.4 9.7 11.8 11.0 Khaz 56.7 59.8 68.6 71.6 71.7 77.0 77.0 142.0r Russia/Ukraine 148.6 142.9 181.2 196.6 216.6 196.5 219.4 150.0 Slovakia 0.6 0.8 - 1 - 1 - - - - South Africa 106.1 109.7 101.7 110.5 76.0 76.0 91.0 90.0 Turkey 9.3 11.2 10.8 8.7 10.5 12.1 10.9 10.0 Zimbabwe 6.3 - - - - - - - Total 441.1 453.9 508.3 542.2 597.3 603.7 681.1 635.0 % total FeCr 10 9 9 8 9 9 8 8 productionPrabhash Gokarn 24
  • 25. Low Carbon Ferro Chrome – Random Thoughts LC FeCr by country 700 600 500 400 300 200 100 0 2001 2002 2003 2004 2005 2006 2007 2008e China Russia South Africa Kazakhstan OthersPrabhash Gokarn 25
  • 26. Low Carbon Ferro Chrome – Random Thoughts Backup Specifications of Refined FeCrPrabhash Gokarn 26
  • 27. Low Carbon Ferro Chrome – Random Thoughts Specifications for low-carbon ferro-chrome (%) Low-carbon Low- nitrogen High- chromium Nitrided, molten Cr (min) 68-73 68-73 69 76.5 82-88 ~65 C (max) 0.03-0.10 0.015-0.03 0.05 0.035 0.05 0.10 Si (max) 1.5 1.5 0.3 1.5 1.5 1.5 P (max) 0.03 0.03 0.025 0.025 0.020 0.03 S (max) 0.02 0.02 0.010 0.010 0.01 0.02 N (max) … … 0.020 0.05 0.10 3-4 Co (max) … … … 0.03 0.020 … Mn (max) … … … … 0.5 … V (max) … … … … 0.3 …Prabhash Gokarn 27
  • 28. Low Carbon Ferro Chrome – Random Thoughts ASTM specifications for low carbon chromium ferroalloys (%) Grade Cr C Si S P N max max max max Low-carbon ferro-chrome A 60-67 0.025 1-8 0.025 0.03 0.12 B 67-75 0.025 1 0.025 0.03 0.12 C 67-75 0.05 1 0.025 0.03 0.12 D 67-75 0.75 1 0.025 0.03 0.12 Vacuum low-carbon ferro-chrome E 67-72 0.02 2 0.03 0.03 0.05 F 67-72 0.01 2 0.03 0.03 0.05 G 63-68 0.05 2 0.03 0.03 5-6 Nitrogen-bearing ferro-chrome 62-70 0.1 1 0.025 0.03 1-5Prabhash Gokarn 28
  • 29. Low Carbon Ferro Chrome – Random Thoughts Alloy Analysis TYPICAL ANALYSES TYPE OF ALLOY % Cr %C %Si Cr:C Cr:Si Special Low Carbon >90 <0.01 0.4 9 000 225 Low Carbon 55-68 0.05 0.7 1 200 85 Charge Chrome 50 7.5 3.5 7 15 Plasma Chrome 50-58 8.0 1.8 7 30Prabhash Gokarn 29