International Ferro Metals forecast a revival in demand for ferrochrome with global stainless steel production expected to rise in 2011.

The South African firm that produces ferrochrome IFM said global stainless steel production is expected to rise to 33 million tonnes from about 30.8 million tonnes expected in 2010.

Global stainless steel production rose more than 40 percent in the first half of 2010 on the back of strong restocking as the global economy slowly recovered after recession.

Mr David Kovarsky CEO of IFM said that "The third quarter is traditionally a weak time of year for ferrochrome demand and this year was no exception. However, since the end of the quarter we have begun to see a strengthening of demand, particularly from China.”

(Sourced from Reuters)