Chrome Exports To China Resumes

China has opened up the chrome market for Zimbabwe’s Chrome producers, Business Times reports. China closed its market due to the COVID-19 pandemic and depressed prices and Zimbabwean Chrome producers were also holding onto their stocks because it was no longer viable to export their Chrome to China.

The development was confirmed by Zimbabwe Miners Federation secretary for external affairs Gift Karanda who spoke to the publication and said:

We are now resuming exports to China this coming week. China is now opening up the chrome market for our chrome and the prices have started going up slightly.

According to the publication:

By the time the markets stopped coupled by Covid-19, chrome ore was selling in China at around US$70 per tonne depending on the grades while ferrochrome is selling at US$0.80c per pound.

HOT DEALS:
itel A70 - (128GB, 3GB RAM) $89,
itel A70 - (256GB, 4GB RAM) $99
itel P40 (128GB, 4GB), (6000mAh) $99
itel P40 (64GB, 4G), (6000mAh) $93
Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika.

WhatsApp: 0783 450 793

The decline reportedly caused a sharp decline in Zimbabwe’s chrome sales which decreased from about $47 million in 2018 to around $30.8 million in 2019.

More: Business Times