Spot prices of high-carbon ferro chrome in China and Japan stayed flat week on week, as trading activity thinned after the year-end lull.
SteelMint assessed 48-52% charge chrome at 64-67 cents/lb CIF China and 58-60% high-carbon ferro chrome at 64-64.5 cents/lb CIF China, both unchanged from a week ago.
Indian Producers and traders said there were no inquiries from China this week as January loading cargoes booked this week.
Japan’s spot ferro chrome prices for 60% grade stayed at 68 cents/lb CIF Japan, unchanged from a week ago. There were no trades, bids or offers reported.
As there is no demand for Indian ferro chrome from European and Chinese buyers, Japanese and Korean buyers are pegging for lower offers, but Indian producers are unwilling to lower their offer levels.
Domestic Ferro Chrome Prices Unchanged
Ferro Chrome prices remain unchanged with market pressurized by low trade levels.
SteelMint assessed Ferro Chrome 60% min is around INR 58,000 – 58,500/MT (Ex-Works Odisha). Prices remain at the same level on sparse demand from end-users.
On the future outlook, prices are expected to remain under pressure, and the possibility of seeing a rebound in prices is not expected soon with the market currently over-supplied.
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