High Carbon Ferro Chrome prices likely to remain stable as buyers and sellers are both holding out, for now.
The Chinese demand for imports has failed to improve, keeping buying activity very low. The Chinese buyers are holding back on their purchases, waiting for the major Stainless steel mills to declare their purchase price for Mar’17.
Currently, the offers for export remain unchanged in the range of 102-104 cents/lb CNF China. In line with offers to China, buyers from Japan and South Korea are also looking for a parity with Chinese offers, and are not ready to accept anything higher then the extra freight tariff. Indian HC Ferro Chrome offers are in the range of 109-111 cents/lb CNF Japan and 108-110 cents/lb CNF South Korea.
SteelMint assessed that the Chinese stainless steel mills declaration of their March purchase price is awaited, as it could provide clarity on the direction of pricing for Ferro Chrome.
High Carbon Ferro Chrome prices are likely to remain flat amid scant buying interest from traders and stainless steel producers.
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