Indian Ferro Chrome prices remained stable this week on W-o-W basis. It increased in the past week owing to higher Nickel prices and the improved Stainless-Steel prices. Overall offer prices of Ferro Chrome had increased in line with prices in international prices of Ferro Chrome. Producers reported that the demand in the global market is stable, however, in the domestic market demand remains dull.
Domestic Prices for Ferro Chrome in India is assessed in the range of INR 62,000-63,000/MT. However, a few producers are quoting at higher prices. Export offers also increased in line with increased nickel prices. Offers for CNF South Korea (10-50 mm, HC 60%) is at around 73 cents/lb, CNF Japan(10-50 mm, HC 60%) is at 74cents/lb and for CNF China the prices are at around 71 cents/lb.
Chinese Market:
Ferro Chrome prices in China rose following the increase in Ore prices and inquiries, but trades are cautious in making any deals. UG2 prices have gone up amid higher freight rates. However, with the Rand depreciating, there are limited chances that the prices may rise any further. Chinese Stainless Steel Mills rolled over their August Ferro Chrome purchase tender prices. Producers reported that the Stainless Steel plants are sitting with high inventory, as the July tender deliveries were delayed.
On the future outlook, the prices may remain stable for the time being with minor fluctuations. The supply-demand dynamics is drawing the price trend.
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