Indian 58-60% high carbon ferro chrome was assessed at 71-73 cents/lb CIF China, unchanged from last week. Although, bids were at 70-71 cents/lb CIF China, while offers were at 72-73 cents/lb CIF China, sources said. No deals were reported.
The Japanese spot import price was assessed at 73-74 cents/lb CIF Japan, unchanged from a week ago in the absence of deals, offers or bids.
A deal was heard to be concluded with a South Korean company at 73 cents/ lb CIF Busan for around 300 MT of Indian origin material to be loaded in early August. Demand for Indian origin ferro chrome is expected to be firm with supplies of South African material tight because of seasonal factors. South African producers curtail production in the third quarter to carry out maintenance during the southern winter months when electricity is more expensive.
Domestic Ferro Chrome Prices Keeps Unchanged
Domestic offer price for High Carbon ferro chrome is unchanged from last week. The mainstream price of HC Ferro Chrome 60% min. is around INR 62,000 /MT (Ex-Works Odisha). A producer source remarked that the prices are under pressure as some producers are offering aggressively to clear their stock. Sources in the market continue to suggest that there was minimal activity in the market and believe that the market condition is unlikely to change in the near future, despite there were still talks of limited supply. SteelMint assessed that the market has been relatively quiet and the lack of trading volume has limited the price movement in this month.
Leave a Reply