- Currently, producers are offering at INR 73,000/t ex-Jajpur
- Given its current domestic issues, China is preferring to import
- Exporters are offering ferrochrome at cents 73/lb for CNF China
Indian ferrochrome prices are on an uptick after the Chinese tender prices were released today morning. Meanwhile, increased prices for the 200 series, Stainless-steel has provided support to the increased ferrochrome prices.
The domestic market is also facing supply shrinkage as many producers don’t have much material to offer and the producers with good inventory hold a better position in negotiating offers.
Currently, producers are offering at INR 73,000/t ex-Jajpur, in line with the increasing inquiries from the export market. For China, it is much more feasible to import ferrochrome in the current situation, as they are facing production cuts and higher production cost in their ferrochrome plants, which is making their domestic prices much higher.
The exporters are offering ferrochrome at cents 73/lb for CNF China, while, it is expected to increase marginally in the coming weeks. Meanwhile, prices for South Korea and Japan also jumped up to cents 74/lb and cents 75/lb respectively.
Outlook
Prices of ferrochrome are expected to increase marginally from here. Meanwhile, the upcoming OMC chrome ore auctions could be a deciding factor in the pricing dynamics.
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