Indian Ferro Chrome prices are slightly down as compared to the previous week in line with a sluggish market. Producers reported that the supply tightness situation is continuing despite the transportation lines being reinstated. However, the producers are not surprised with this marginal fall in the current scenario due to a tepid market. After all, the current cost side still has support as compared to the downtrend the market has been seeing since a few weeks back, and most manufacturers are offering at higher levels.
Currently, domestic prices for Ferro Chrome in India is assessed at around INR 66,000/MT. However, a few deals were heard to be concluded at INR 65,000/MT from the West Bengal region. 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 70 cents/lb.
On the future outlook, with the Chrome Ore prices firm in the domestic market producers believe that the Ferro Chrome prices may not sink to further lower levels.
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