At Vedanta-FACOR’s ferrochrome auction yesterday, the larger lot (10-150 mm) achieved an H1 price of INR 108,100/t ex-works, close to the base price of INR 108,000/t. The smaller lot of the same size closed at INR 108,900/t ex-works, up by INR 400/t from the base price. Sluggish demand at higher prices, due to pressure in the stainless steel market, resulted in a lower bid price for the larger lot, down INR 2,850/t from the last auction’s bid price.
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