State-owned, IDCOL Ferro Chrome & Alloys Limited has floated a tender for the sale of High Carbon Ferro chrome (HCFC) of quantity 2,600 MT approximately. Out of the total quantity, 2,200 MT is offered for HCFC (Cr 57 – 62%) lumps and rest of the offer basket comprises of HCFC lumps, chips, granules etc. The last date for receipt of bids is 26 Feb, 2015 at 3:00 hrs.
Domestic offers for HC Ferro chrome of grade 60% are in the range of INR 68,500–69,000/MT ex-works. Further discounts are possible depending upon the quantity required and payment terms. It is to be noted that fall in HC Ferro chrome prices are in line with slowdown in the Indian Stainless Steel production and demand-side constraints from end-users in China & Japan.
There has been an increase in Charge Chrome and Ferro chrome imports from South Africa and Oman respectively. According to data maintained by SteelMint, it is assessed that in Jan’15, about 16,000 MT of Ferro chrome and Charge Chrome was recorded as imported. Out of which, 2,000 MT of HC Ferro chrome was imported at Chennai Port.
Also, Charge Chrome from South Africa was imported by major Stainless Steel manufacturing companies based in North India. The price for South African Charge Chrome of grade 48-49% Cr was recorded at USD 880 /MT, CIF India.
SteelMint assessed that considering a sluggish Stainless Steel market, there seems to be no great change in Ferro chrome and Chrome ore markets in near future.
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