Indian ferro chrome prices continue to move up on strong export orders. Steelmint learnt that prices have gone up to over INR 70,000MT (Ex-works) for grade 60% Cr material . Some deals have also been reported at between INR 72,000-74,000/MT Ex- Works Odisha.
Domestic prices are supported by rising exports by Indian producers. This is quite noticable from recent export numbers recorded by Steelmint. There has been a sharp rise in exports from May’16 onwards, almost doubling in exports recorded in Aug’16 from the exported quantity level in Apr’16.
Ferro chrome exports from India stood at 224,157 MT in FY17 (Apr-Aug). In Sep’16 (till 18th day of the month) Indian ferro chrome exports have been recorded at 24,200 MT.
Q2 of FY17 witnessed decreased production of Chrome Ore during the rainy season and hence the alloy as well. Indian Ferro Chrome prices have also been aided by stronger Chinese demand, as they faced major shutdown in production on stringent inspections taking place in that country. India produces around 1 MnT of Ferro Chrome annually, and half of it is exported.
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