Home / Business / Export of Ferroalloys Increased 6 Times in January
Export of Ferroalloys Increased 6 Times in January

Export of Ferroalloys Increased 6 Times in January

Steel market has a positive mood after difficult 2016, which has been reflected on the export of ferroalloys from Georgia.

According to the express data of Ministry of Economy, export of ferroalloys has made up 23.7 million USD, which is 6 times more comparing to January, 2016. It had brought 20 million USD more in revenue for producers. Products of 3, 3 million have been exported on the foreign market in previous January.

Ferro Alloy Plant owner “Georgian American Eloise” has a positive expectation this year. The Company’s Chief Financial Officer Barry Ness noted with “Industry Messenger” that demand on their products and Trump’s promise gives more reason for optimism.

“We are glad due to the existed conditions on those markets, where we are operating by the beginning of 2017 and we are expanding market area. Now the demand is in favor of producers and after small market, our group starts 2017 with healthy market and forecast”, – said Barry Ness.

It should be noted that Ferroalloys are one of the most important export products. Last year, the export volume amounted to 169 million USD. In 2015 this figure was 195 million,while the export volume has achieved 230-285 million in 2010-2014.