The Indian ferro chrome market was stable over the past week, as there were few buyers in the market.
SteelMint weekly assessment for ferro chrome 60% was made at INR 62,000/MT, unchanged W-o-W.
Bearish sentiment in the ferro chrome market continued to linger. Indian producers said there was less buying interest but prices were unchanged as there is shortage of supply in the market. In the monsoon season chrome ore availability becomes low and so ferro chrome production in turn gets weak.
“We are anticipating the ferro chrome market to be likely range-bound at these lower levels,” remarked a producer from Odisha
Domestic prices might stay unchanged in the meantime in the view of shortage of supply.
Ferro Chrome Export Prices keeps Unchanged
The spot price of Indian 58-62% high-carbon ferro chrome was assessed at 71-72 cents/lb CIF China.
Price gap between buyers and sellers was seen in the ferro chrome export market. Indian producers said they were trying to sell at 72 cents/lb CIF China. However, Chinese buying indications were pegged back at 68-69 cents/lb CIF China.
SteelMint assessed the spot price of Indian high-carbon ferro chrome exports to Japan at 73 cents/lb CIF Japan, unchanged week on week. Bids from buyers were reported in the range of 71 cents/lb CIF Japan but Indian producers were unwilling to lower their offer.
Export deals are not being concluded due to difference in price ideas between Indian sellers and international buyers.
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