High Carbon Ferro Chrome prices were unmoved from last week as there was resilient demand from end-users.

Current price for HC Ferro Chrome (60% Grade) is settled INR 71,500-72,000 /MT (Ex-Works Odisha) and INR 72,000 – 72,500 /MT (Ex-Raigarh).FACOR Alloys one of India’s largest and established producers and exporters of High Carbon Ferro Chrome is offering HC Ferro Chrome at INR 73,500 /MT.

Overseas Market

Chinese import prices for Ferro Chrome and charge chrome were flat this week with little demand for imports at year-end. The spot price for Indian origin high carbon Ferro Chrome (58-60% Cr) was assessed at 84-85 cents/lb CIF China, and that for South African charge chrome (48-52% Cr) at 83-84 cents/lb CIF China Friday, both unchanged from a week earlier.

Domestic spot prices of High Carbon Ferro Chrome (50% basis Cr) in China were Yuan 6,750-6,900/MT (84-86 cents/ lb), on a delivered basis including 17% VAT.
Although demand for imports remained weak, market participants saw support for domestic and import prices in the near-term after China’s largest stainless producer — Shanxi Taigang Stainless Steel lifted its January purchase price and on higher first quarter term contract settlements in Europe and Japan. Taigang lifted its Ferro Chrome purchase price by Yuan 20/MT (USD 3/MT) month on month to Yuan 6,650/MT (equivalent to 82 cents/lb) for January deliveries. Its competitors, including Baosteel, Jiuquan Iron & Steel and Tsingshan Holdings, all rolled over purchase prices for January.

The spot price of high-carbon Ferro Chrome (60-65% Cr) exported to Japan was assessed unchanged from last week at 89-91 cents/lb CIF Japan, amid thin trading ahead of the year-end. There was no other deal, bid or offer reported this week.

SteelMint learned from market sources that there is confidence in the market for High Carbon Ferro Chrome, as most market participants are holding a positive outlook with better demand expected in the coming year.

Exchange Rate: USD 1= INR 61.87