Indian Ferrochrome producers get optimistic after release of Chinese tender prices

A major producer of ferrochrome in India has informed SteelMint that the prices will not be negotiated below INR 95,000/t in the domestic market. There was an anticipation in the market that the Chinese tenders might drop by up to RMB 700/t, however, RMB 350/t drop is suggestive of the low supply in the Chinese market. Thus, optimism has now returned to the ferrochrome market and the producers wish to remain firm with their offers.