- Buyers turn cautious amid elevated offers
- Indian stainless steel producer hikes prices
Indian high-carbon ferro chrome (HC60%, Si:4%) prices increased by INR 4,200/tonne (t) ($48/t) as compared to the assessment on 27 August. With major sellers not offering material and only a few active in the market, prices climbed higher.
High-carbon ferro chrome (HC60%, Si:4%) prices in India stood at INR 113,700/t ($1,290/t) exw-Jajpur, according to BigMint’s assessment on 3 September. Deals for around 5,390 t were recorded by BigMint within the price range of INR 106,000-115,000/t ($1,203-1,305/t) exw.
Similarly, low-silicon high-carbon prices increased by INR 2,500/t ($28/t) w-o-w to INR 117,500/t ($1,333t) exw-Jajpur. Low-carbon ferro chrome (C: 0.1%) also rose by INR 3,000/t ($34/t) w-o-w to INR 207,000/t ($2,349/t) exw-Durgapur.
Market summary (28 August-3 September 2025)
Tight supply lifts offers, buyers turn wary: Ferro chrome prices remained elevated over the week, as major sellers refrained from offering material, leaving supply limited in the market. Only a few suppliers were active, which pushed offers up to around INR 114,000/t ($1,294/t). However, buyers remained cautious in their purchases, resulting in restrained trading activity.
Chinese prices edge up: Ferro chrome (HC: 60%) prices in China edged up by RMB 300/t ($42/t) w-o-w to RMB 8,700/t ($1,218/t) exw-Inner Mongolia. Rising coke costs supported high-carbon ferro chrome prices, while potential power rationing in Inner Mongolia could trigger short-term production cuts.
Stainless steel demand was below expectations during the peak season, keeping ferro chrome procurement need based. Demand for low-carbon ferro chrome remained strong in the new energy sector, while easing real estate policies, along with potential infrastructure investment, may boost mid- and low-grade ferro chrome consumption.
India’s export prices stay stable w-o-w: Ferro chrome export prices to China held steady w-o-w at 94 cents/lb CNF, as limited trading activity was observed due to competitive domestic tags in China. Prices to Japan remained unchanged at 98 cents/lb CNF, while exports to South Korea inched up by 2 cents/lb w-o-w to 98 cents/lb CNF.
Indian stainless steel prices edge up w-o-w: Prices of 304-grade hot-rolled coils (HRCs) edged up by INR 500/t ($6/t) w-o-w to INR 190,000/t ($2,156/t) ex-Mumbai, supported by higher raw material costs and price hikes from domestic and global producers.
Meanwhile, India’s leading stainless steel coil producer raised 304-grade prices by INR 5,000/t ($57/t), effective 3 September, amid increased raw material costs and global price trends.
Outlook
Ferro chrome prices are expected to remain range-bound in the near term due to limited supply. Any significant price movement will depend on changes in material availability or shifts in downstream demand.
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