State–owned IDCOLFerro Chrome & Alloys Limited had floated a tender for the sale of High Carbon Ferro Chrome (HCFC) of quantity 1250 MT approximately, out of which 1000MT was offered for HCFC (Cr 57–64%)lumps, and 250 MT for HCFC (Cr 60 – 65%) lumps. This quantity constituted of some of the unsold stock of about 400 MT from the previous auction. The last date for receipt of bids was 3.00 PM on 15 April, 2013.
The entire lot of HCFC (Cr 57–64%) lumps was auctioned for Rs. 70,100 / MT (ex-works), confirmed sources. Previous auction for the same grade of HCFC recorded bids of Rs.71,125 / MT. Whereas, HCFC (Cr 60 – 65%) lumps remained unsold as bids for the same were considerably lower than expected said a senior official of the Company.He further stated, “We have the capacity to hold on. There is no hurry.†Two other producers of Ferro Chrome also conceded to SteelMint that demand is a little poor, and buyers are reverting to a wait-and-see stance. Currently High Carbon Ferro Chrome in the open market is trading at Rs. 70,000 ex-works.
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