Domestic offer price for HC Ferro Chrome is relatively unchanged, but is facing downward pressure due to weak demand and abundant supply. The mainstream price for HC Ferro Chrome 60% min. is ranging between Rs. 65,500 – 66,000 /MT Ex-Works Basis.
Export offers for HC Ferro Chrome (Grade 60%) currently stand at 0.90 USD/Lb CIF China, 0.94 USD/Lb CIF Korea, and is ranging between 0.93 – 0.96 USD/Lb CIF Japan. The Chinese buyers have become more interested in imports following an increase in domestic HC Ferro Chrome prices. Chinese domestic price for HC Ferro Chrome (Grade 50%) were trading at Yuan 7000-7100 /MT (0.86-0.87 USD/Lb). However, Indian producers reported of no surge in inquiries. Industry participants highlighted that the South African producers are offering aggressively in the market, aided by the fast depreciating South African Rand. Meanwhile, Tata Steel has resolved its Chrome Ore mining issue at its Sukhinda chromite mines, which will result in a substantial increase in Ferro Chrome production in the near future.
The prices for HC Ferro Chrome are unlikely to rise given the demand and prices in the Stainless Steel industry remains weak.
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