Ferro chrome market has been presently stable as prices have stagnated over the weeks and demand was as usual low.
SteelMint weekly assessment for grade 60% is around INR 63,000-64,000/MT (Ex-Odisha). Few producers were heard to offer at higher levels but most participants that Ferro Chrome prices can’t rise when the Stainless Steel industry in India has not been performing well.
Ferro chrome prices remained under pressure by low demand from stainless steel mills, but there is shortage of Ferro chrome supply, which is lending support to stable prices. “Producers want to lift prices but the increase so far is not very obvious. The stainless market has been doing very badly,” stated a producer from Odisha.
Ferro Chrome Export Prices Down, as Buyers Resist Current Offers
Export prices for Indian origin ferro chrome eased this week as market participants pegged lower prices amid low demand and reduced purchase prices by Steel mills in China.
The spot price of Indian-origin high carbon ferro chrome (58-60% Cr) was assessed at 69 cents/lb CIF China, down from last week prices. A producer from India said buyers were only keen to procure Indian Ferro chrome at 67-68 cents/lb CIF China. However no offers were heard as low in the market this week, but prices could come down further in the coming week.
SteelMint assessment of Japanese and Korean ferro chrome imports stayed at 73cents/lb CIF. Inquires from Japan and Korea have started picking this week as one of the major global ferro chrome producers is unable to supply material in the Korean market.
Leave a Reply