#”In 2025, chrome concentrate remains one of South Africa’s most valuable exports — with China as its top buyer. But recent export controls and energy reforms are reshaping this billion-dollar trade. In today’s video, we dive into how Heng Huat Resources is navigating this changing landscape — from sourcing chrome in South Africa to shipping it directly to China.”
The Global Chrome Marke
“South Africa exported 20.5 million metric tons of chrome concentrate in 2024, valued at over R85 billion — nearly $4.8 billion USD.
China imported around 17 million tons, making up nearly 80% of South Africa’s chrome exports. This raw material is vital for ferrochrome smelting, a key ingredient in stainless steel production.”
Export Tax Approved,” “ITAC Permits Required
“But in mid-2025, the South African government introduced new rules to slow down raw material exports:
ITAC export permits are now mandatory for chrome concentrate.
A new export tax is being applied to raw chrome shipments.
At the same time, domestic ferrochrome smelters get electricity discounts under a new scheme called NPAs — up to 50% tariff relief, but with load-shedding flexibility.”
“Heng Huat Resources, a global commodities trading company headquartered in Singapore, plays an active role in chrome exports.
In South Africa, the company sources chrome concentrate directly from mines and handles bulk exports to international buyers — especially in China, its largest client base.
They operate under flexible terms like FOB, CIF, and CFR, adapting to market conditions.”
Challenges & Tradeoffs
“But despite government support, South Africa has lost ground in ferrochrome production.
Why?
Electricity prices have increased nearly 900% since 2000.
Over half of South Africa’s 59 chrome furnaces have shut down.
In contrast, China benefits from state energy subsidies, faster logistics, and integrated steel production.”
“For traders like Heng Huat Resources, success in 2025 depends on staying ahead of policy changes.
They may need to adapt contracts, apply for export permits, and factor in new taxes — but their established supply chain and relationships with Chinese buyers offer a strong competitive edge.”
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