Tharisa wary on chrome demand and prices because of US tariffs on major customer China

Tharisa’s chrome and pgm production bounced back in the March quarter but CEO Phoevos Pouroulis is wary over the possible negative impact of USA tariffs on future chrome and pgm (platinum group metals) prices.Pouroulis said chrome prices had advanced from pre-December quarterly lows with the spot price trading at $300/t and port stocks at around six to eight weeks inventory levels.He commented “demand for chrome remains strong with the logistics pipelines operating normally. The recent implementation by the USA of revised trade tariffs on all Chinese imports in the USA – with China being our main market for the chrome concentrates – and likely impact on demand for stainless steel is uncertain at this time and may impact on demand and prices for chrome.”Pouroulis added, “our pgm (platinum group metals) basket price is relatively stable in rand terms with the devaluation of our local currency.”But he cautioned, “the impact of the trade wars on the outlook for global economic growth is creating an uncertain and volatile environment which may impact on demand for commodities. While both pgms and chrome are not subject to USA tariffs, the intermediate and final products containing these commodities will be.”Tharisa bounced back in the March quarter from the slow production start to its 2025 financial year during the December quarter with revenues also being boosted by a weaker rand against the US dollar.Pouroulis said pgm prices saw “good support pre-USA global trade tariffs being affected as the market started to realise that the supply/demand gap needs price recalibration to ensure future re-balance. The impact of the trade tariffs, particularly on the motor trade on future demand for motor vehicles may impact pgm demand and prices going forward.”Tharisa’s pgm production rose to 32,500 oz (December quarter – 29,900 oz) and production output increased to 381,000t (374,400t). This was despite “unprecedented rainfall and weather interruptions”.The company’s net cash position fell to $79.3m at end-March from $89m at end-December.The post Tharisa wary on chrome demand and prices because of US tariffs on major customer China appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com