The High Carbon (HC) Ferro Chrome market is relatively calm for the past few weeks with participants describing spot trading activity as sporadic and slow.

 Domestic offer price for High Carbon Ferro Chrome down from last week, as Indian producers of Ferro Chrome cut offers to solicit trade. The mainstream price of HC Ferro Chrome 60% min. is around INR 71,000 /MT (Ex-Works Odisha). A producer source remarket that the prices are under pressure as some producers are offering aggressively to clear their stock. . The price of HC Ferro Chrome in Raigarh stands at INR 72,000 /MT.

FACOR (Ferro Alloys Corporation Limited) is offering HC Ferro Chrome (60% Grade) at INR 73,000 /MT (Ex-Plant).

Overseas Market

 China’s domestic spot prices of High Carbon Ferro Chrome continued to hold firm W-o-W at Yaun 6,850-7,000/MT (85-86.5 cents/lb), on a delivered basis including

17% VAT, amid little change in market fundamentals.

Spot prices for imported Ferro Chrome into China corrected marginally. Export offers to China for Indian-origin HC Ferro Chrome (58-60% chrome) is trading at around 86-86.5 cents/lb CIF China main-ports.

Supply in the Chinese market has been abundant on rising domestic capability and high import volumes, but this supply pressure on prices has been mitigated by support from Chrome Ore prices, sources said. However, opinions were divided on whether Chrome Ore prices would continue to prop up Chinese Ferro Chrome prices.

The spot price of high-carbon lumpy Ferro Chrome exported to Japan was flat W-o-W at 88-88.5 cents/lb CIF Japan because of an absence of reported offers, bids or deals.

SteelMint assessed that overseas demand was lackluster as there was no spot inquiries for the lumpy material as buyers appeared to have satisfied their requirements for the month. On the future trend, prices are expected to remain under pressure, and the possibility of seeing a rebound in prices is expected in December, as Chrome Ore price increases worldwide in the winter months owing to the difficulty in mining activities.