The price of ferroalloys on the international market has increased by USD 50 and currently the price of 1 ton of the commodity ranges from $1,200 to 1,300. Nugzar Kevlishvili, head of the Ferroalloy Producers' Association, told TV-program “Business Morning”.
However, the association expects an even greater increase in product prices worldwide. According to Nugzar Kevlishvili, it will help factories in Georgia to resume production. The head of the Ferroalloy Producers' Association explains the reasons for the positive expectations.
"Today, the cost of ferroalloys on the international market ranges within USD 1200-1300 per metric ton, but we expect an increase. The price of ferroalloys in the US should increase, which will also lead to an increase in prices in Europe and Asia. Based on the legislative changes implemented by the new US administration, the American metal market will be stimulated, metallurgy should grow with a 100% probability, which will give us the opportunity to increase the export of Georgian ferroalloys.
The market in Europe has not yet revived, metal production is at a low level, but we are hopeful that the hostilities in Ukraine will stop and the work process at metallurgical plants will resume. This will be an opportunity to activate Georgian production," said Nugzar Kevlishvili.
