Turkish company Eti Krom, a subsidiary of Yildirim, has suspended the export of ferrochromium and chromium ore indefinitely due to logistics problems caused by the damage caused by the Turkish-Syrian earthquake.
Damage to the railway line from the Eti mine Krom and a ferrochrome plant to Turkey's southern seaports forced the company to suspend exports.
The suspension of the railway blocked access to the company's main export route, the port of Iskenderun, which was also closed until further notice as a result of the earthquake and subsequent fire that set fire to more than 1,000 containers, according to Turkish maritime authorities.
The closest alternative, the port of Mersin, 209 km to the west, is operational and shipping companies are diverting their shipments there. But due to the failure of the railway, Eti Krom products cannot reach the port.
“All deliveries of chromium ore and ferrochromium have been stopped due to logistics problems due to earthquakes in the eastern part of Turkey,” — said a source close to the operation. “There is still no clarity as to when things will return to normal.”
Eti Krom produces a high-carbon ferrochromium alloy with a minimum 65% chromium content. European prices for this variety were last estimated on 9 February at $2.20-2.50/lb/unit, down from $2.08-2.36/lb/unit January 31, and market participants told Argus that the lower availability of Turkish raw materials could lead to further price increases.
Turkey is the second largest exporter of chromium ore in the world, and Eti Krom is the largest producer in the country. Argus today valued 40-42% Turkish lump chromium ore at $310-320/t (China cif) compared to a five-year high of $395-400/t (China cif) in June. The vast majority of the country's chromium ore goes to China.
Relief efforts continue on the Turkish-Syrian border, and more than 28,000 people are now known to have died in the earthquake and subsequent destruction.
