- Indian export prices remain steady w-o-w
- Chinese prices dip by RMB 100/t (14/t) w-o-w
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained largely stable at INR 118,700/t ($1,337/t) compared to the previous assessment on 26 September. Prices held firm, with sellers maintaining firm offers while buyers remained cautious.
High-carbon ferro chrome (HC60%, Si:4%) prices in India stood at INR 118,700 /t ($1,337/t) exw-Jajpur, according to BigMint’s assessment on 3 October. Around 3,850 t was traded last week within the price range of INR 118,000-123,000/t ($1,329-1,385/t) exw.
Additionally, prices of the low-silicon high-carbon grade rose slightly by INR 1,000/t ($11/t) w-o-w to INR 126,000/t ($1,419/t) exw-Jajpur. Prices of low-carbon ferro chrome remained steady w-o-w at INR 211,600/t ($2,383/t) exw-Durgapur, respectively.
Market updates (25 September – 2 October )
Regular trades keeping prices supported: Ferro chrome prices remained largely stable over the week, although overall market activity was subdued, partly due to the ongoing festival season. Sellers continued to stay firm on their offers, with some reaching up to INR 125,000/t ($1,408/t) exw. Meanwhile, buyers remained cautious at these elevated levels and majority of the deals were carried out upto INR 120,000/t ($1,352/t) exw levels.
Export prices remain flat: Indian ferro chrome export prices to China held steady w-o-w at 97 cents/lb CNF as market activity slowed ahead of festival holidays, with buyers favouring domestic material for quicker delivery. Prices to Japan and South Korea also stayed unchanged at 103 cents/lb CNF and 102 cents/lb CNF, respectively.
Chinese prices hold firm: Ferro chrome (HC 60%) prices in China edged down by RMB 100/t ($14/t) w-o-w to RMB 8,800/t ($1,236/t) exw-Inner Mongolia. Chrome ore prices softened slightly, though supply-side uncertainties from South Africa’s power issues and strikes at Turkish ports lent support. Coke costs remained stable, with limited impact on the ferro chrome market.
Demand for high-carbon ferro chrome remained firm from stainless steel producers, while production cuts restricted medium-carbon demand. The new energy sector continued to support low-carbon ferro chrome consumption in photovoltaic brackets and energy storage, although growth remained largely concentrated within this segment.
Indian stainless steel prices remain steady: Indian stainless steel 304-grade HRC prices held steady w-o-w at INR 192,000/t ($2,163/t) exw-Mumbai amid limited market activity. Demand in the longs segment was weak, impacted by seasonal factors such as monsoon disruptions, festive holidays, and the upcoming Diwali lull. Export prospects also slowed, with overseas orders constrained by US tariffs and currency fluctuations.
Downstream demand across utensils, cutlery, hinges, and tubes remained weak, while rising prices of finished products such as pipes and tubes discouraged fresh buying, leaving overall market activity subdued both domestically and overseas.
Outlook
Ferro chrome prices are expected to remain range-bound in the near term, with only minor fluctuations anticipated.
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