The recovery in industrial activities in US, EU, China, Japan, India, Russia and Brazil is good news for the steel, iron and chrome ore sector. This is also evident from the increase in steel production from the lows of last year.

Mr Sahit Muja President of Albanian Minerals in NY, USA and Bytyci SHPK Tropoje said that "Globally, the demand for steel, iron, chrome ore has improved partly due to recovery in industrial activities in US, EU, China, Japan, India, Russia and Brazil.

Most of the inventories of metals were depleted and people are once again buying metals, copper, steel, chrome ore, iron, coal, aluminium, and nickel to build their inventories led by marginal recovery seen in the end user industries." Mr Sahit Muja said Albanian Minerals in Albania, NY, Turkey, India, China, And Brazil have receive in last 3 month 50% more inquiries from companies to buy more, cooper, iron, chrome, nickel, aluminium and ferro chrome".

"As World's economies improve and steel stocks are run down, steel demand is forecast to rise about 10% this year. Global steel output had fallen 8% in 2009 as key industries such as automakers and construction slashed purchases.

The results are also seen in global steel prices, which corrected from $1,100 per tonne in July 2008 to a low of about $400 per tonne in May 2009 and are now up".

Prices are not expected to move up fast as demand is yet to pick up on a sustainable basis. Steel companies also believe that only if chrome ore, coking coal and iron ore prices move up sharply then prices will move higher.

A steady increase in steel consumption is predicted for 2010 as government schemes get underway. Prices are, therefore, forecast to advance in 2010. Larger price improvements are forecast for chrome ore in 2010 -2012 as a recovery in the world economy commences.

Copper futures for May delivery rose 13.65 cents, or 4.4 percent, to $3.2385 a pound at 11:58 a.m. on the New York Mercantile Exchange’s Comex unit. The most-active contract advanced as high as $3.241, the highest price since Jan. 26.

Copper extended gains after a report showed manufacturing in the New York region expanded in February at the fastest pace in four months.

The Federal Reserve Bank of New York’s general economic index rose to 24.9 this month, from 15.9 in January. Readings above zero signal growth. The region encompasses New York and parts of New Jersey and Connecticut.

Copper for three-month delivery gained $269, or 3.9 percent, to $7,134 a metric ton ($3.24 a pound), after touching $7,150 earlier, the highest price since Jan. 27. Aluminium, nickel, zinc, tin and lead prices also rose.