According to the custom data, India witnessed an increase of 46% in its Ferro Chrome exports in Mar’17 at 0.1 MnT against Feb’17. In Feb’17, the same was 0.07 MnT.
Moreover, India also recorded 40% increase in its Ferro Chrome exports in FY17 on Y-o-Y basis. In FY17, India registered total Ferro Chrome export of 0.63 MnT against 0.45 MnT in FY16.
China remained the largest Indian Ferro Chrome importer, importing around 61% of the total Indian exports. South Korea, Taiwan and Japan are the next largest importers of Indian Ferro Chrome. China being the largest importer, witnessed a massive increase of 102% in its May’17 imports on M-o-M basis. The Chinese steel mills decided to book bulk quantity in advance in Mar’17, anticipating higher prices, with strong demand from Chinese Stainless Steel producers leading to supply shortage in the market.
Most of the Ferro Chrome produced in India exported to the Far East (China, Japan, South Korea and Taiwan) since it is the epicenter of stainless steel production and also considering our logistical advantage.
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