Ferro Chrome market remains quiet as buyers and sellers differ on commodity’s price.
“Demand from China remains dull even post festive season and a few buyers have been negotiating at the tender price set by stainless steel mills while Indian producers are unwilling to go below 88 cents/lb,” said a source discussing the confusion created in the market.
Another source revealed that a difference in price opinion has led to a wait-and-watch mode in Ferro Chrome market as both the sides are static on their decision.
Steelmint assessed Ferro Chrome prices at 86 cents/lb CIF China, 92 cents/lb CIF Japan and 91 cents/lb CIF Korea.
In line with international offers, Indian prices also remained still as deals are heard to have concluded at INR 76,000/MT (Ex-Jajpur). Few deals for smaller tonnages of around 100 MT were heard to be concluded at INR 78,000/MT. Demand in the domestic market is also observed to be moderate, but with better realization.
On the future outlook, Indian producers are optimistic that spot prices will increase in line with rising Chrome Ore prices.
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