- Stainless steel prices rise despite weak sentiment
- Chinese prices remain steady on tight spot supplies
Indian high-carbon ferro chrome (HC60%, Si:4%) prices went up by INR 1,100/t ($13/t) in comparison to the assessment on 6 August. Prices went up as the domestic market witnessed shortage of supplies due to majority of the sellers being sold out or supplying to the export market.
As per BigMint’s assessment on 13 August, high-carbon ferro chrome (HC60%, Si:4%) prices in India were INR 101,600/t ($1,162/t) exw-Jajpur. Around 1,500 t of deals were reported last week in the price range of INR 100,000-102,000/t ($1,143-1,166/t) exw.
Prices for low-silicon high-carbon ferro chrome too edged up by INR 1,200/t ($14/t) w-o-w to INR 106,600/t ($1,219/t) exw-Jajpur. Low-carbon ferro chrome (C: 0.1%) prices held steady w-o-w at INR 199,700/t ($2,283/t) exw-Durgapur.
Market highlights (7-13 August 2025)
Supply shortage and export demand boost prices: Ferro chrome prices in the domestic market rose due to low supply and strong export demand. As per market sources, shortage of high-grade chrome ore also added to reduced production, making supply even tighter and pushing prices up. Most sellers have already sold their stock or are focusing on exports, as demand from Europe in particular is high and gave better realization.
Sellers were offering material up to INR 104,000/t ($1,189/t) exw, but no major deals were reported last week at these levels, as buyers stayed cautious about the high rates. Overall, limited supply, strong overseas demand, and sellers’ preference for exports kept the market sentiment firm and supported the upward trend in ferro chrome prices.
Chinese prices steady: Ferro chrome (HC60%) prices in China held steady w-o-w at RMB 7,950/t ($1,108/t) exw-Inner Mongolia. Stability in prices was supported by tight spot supply and higher chrome ore costs. Despite ongoing stainless steel mill production cuts, which reduced demand, ferro chrome availability in the spot market remained low as factories prioritized fulfilling term contracts.
Market participants attributed the recent firmness in chrome prices to supply shortage. With almost no volume available for spot sales and producers refraining from building inventories, the balance between limited supply and cautious demand continues to keep domestic ferro chrome prices steady.
Uptick in Indian stainless steel prices: Stainless steel prices for 304 grade HRC edged up by INR 2,000/t ($23/t) w-o-w to INR 187,000/t ($2,135/t) exw-Mumbai. India’s stainless steel market sentiment remained weak, with no significant recovery as participants stayed cautious following the newly notified BIS certification rules for imports and Trump’s recent tariff moves. Initially, a 25% tariff was announced on steel imports, later doubled to 50%. These developments have heightened uncertainty, prompting buyers to adopt a wait-and-watch approach. In the near term, market activity is expected to remain subdued, keeping risks elevated and pressure intact on global and domestic steel trade flows.
Outlook
Recent reports indicate some trades at elevated levels. So in the coming days, prices may witness an uptick as sellers seem to be holding firm to their offers.
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