Bhubaneswar:
With the rising demand from China- the world’s leading Ferro Chrome producer, the Global Ferro Chrome prices is expected to improve further in the next two to three quarters. In this backdrop the industry sees international Ferro Chrome prices to touch 87 to 88 cents per pound.
The stainless steel industry consumes almost 80% of the world’s Ferro Chrome and China is the largest stainless steel producer in the world. So rise in Ferro Chrome demand in china has direct impact on the international prices.
“With rising demand from the world’s biggest stainless steel producer China and other east Asian countries global prices of Ferro Chrome will pick up to the high eighties, i.e. to 87 to 88 cents per pound in the next two to three quarters” said Subhrakant Panda, MD IMFA.
He feels that due to un-sustained export from world’s biggest Chrome producer South Africa owing to its power problems, India’s competitiveness as a Ferro Chrome exporter will rise, though it has its own short of problems like rising power cost. He also fees that the domestic demand is also improving.
Not only IMFA another Ferrochrome producer VISA BAO also sees the global ferrochrome prices will pick up in the next few quarters.
“ We expect international ferrochrome prices to cross 85 cents per pound in the next few quarters” said Ranjan Mishra, MD, VISA Bao.
Reported by Tapan Moharana
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