- Tsingshan lowers Aug’25 tender price by RMB 100/t ($14/t) m-o-m
- Stainless steel prices dip w-o-w
Indian high-carbon ferro chrome (HC60%, Si:4%) prices stayed largely rangebound, going up slightly by INR 300/t ($3/t) as compared to the assessment on 23 July. With weak demand for stainless steel and key sellers being sold out, supplies were a bit restricted which marginally pushed up the prices.
India high-carbon ferro chrome (HC60%, Si:4%) prices were INR 99,700/t ($1,139/t) exw-Jajpur, as per BigMint’s assessment on 30 July. Approximately 3,600 t of deals were finalized last week in the price bracket of INR 99,100-100,000/t ($1,132-1,143/t) exw.
Prices went up for low-silicon high-carbon ferro chrome by INR 1,100/t ($13/t) w-o-w to INR 104,500/t ($1,194/t) exw-Jajpur. Around 600 t of trade was finalized for it at INR 105,000/t ($1,200/t) exw levels. It was unchanged w-o-w for low-carbon (C:0.1%) ferro chrome at INR 198,000/t ($2,262/t) exw-Durgapur.
Market recap (24-30 July 2025)
Market buying on prevailing prices: 2 major stainless steel mills were in the market last week to procure material and the buying prices went at INR 100,000/t ($1,143/t) levels and above. Hence, domestic prices saw a slight uptick. Additionally, few key sellers in the market were already sold out for the month which prompted remaining ones to raise their offers a bit.
A seller in the domestic market recently informed BigMint, “Stainless steel prices and demand is weak hence ferro chrome market is not going up significantly.”
Tender price cut in China: After TISCO, Tsingshan also followed the same suit and lowered its August tender price by RMB 100/t ($14/t) m-o-m to RMB 7,995/t ($1,114/t) DAP, including taxes.
Domestic Chinese prices remained supported by rising production costs, driven by higher chrome ore and coke prices. South African port logistics improved, but Turkish power issues and currency volatility kept import costs high. Demand too varied regionally, East China’s stainless steel mills cut ferro chrome buying amid weak orders, while South China’s new energy sector stockpiled high-purity grades.
Marginal dip in Indian stainless steel prices: Indian stainless steel prices for 304 grade HRC edged down by INR 1,000/t ($11/t) w-o-w to INR 183,000/t ($2,091/t) exw-Mumbai. Trading activities also stayed limited.
LME nickel prices fell 3% w-o-wto $15,145/t, while NPI prices in China and Indonesia held firm. Chinese stainless steel CRCs remained stable, backed by improving futures, higher export offers, and production cuts. With the monsoon retreating and festive demand approaching, India’s stainless steel market is expected to see improved sales and potential price gains in August.
Outlook
Prices in the coming days are expected to stay in the current range only with some upward correction. Domestic sellers are trying to lift offers as they’re getting good export realizations amid falling chrome ore stocks in China.
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