- Four lots of HC ferro chrome to be offered
- Only sized material will be available
Vedanta-Ferro Alloys Corporation Ltd (FACOR) has rescheduled its ferro chrome auction from 7 October to 9 October. The auction will feature four lots of high-carbon (HC) ferro chrome, comprising two lots of Cr:57% min (10-50 mm and 10-70 mm), one lot of Cr:54% min (10-20 mm) and one lot of Cr:55% min (0-10 mm). The rescheduled auction therefore consists only of sized material, attracting an additional sizing cost of INR 1,500/t ($15/t).
At the previous auction held on 11 September, the entire offered quantity was booked. The prime lot of HC ferro chrome (Cr:57% min, 10-150 mm) fetched an H1 price of INR 118,000/t ($1,226/t), up INR 500/t ($5/t) from the base price of INR 117,500/t ($1,221/t), while the smaller lot of same speicification fetched INR 118,200/t ($1,228/t), up INR 200/t ($2/t) from the base price of INR 118,000/t ($1,226/t).
Ferro chrome (HC60%, 10-150 mm) prices have recently edged up by INR 400/t ($4/t) to INR 119,200/t ($1,231/t) exw-Jajpur, supported by steady raw material costs, while a few deals have also been concluded at slightly higher levels. Market participants will assess the rescheduled auction for signs of how higher input costs and sizing charges are being reflected in bids.
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