According to the custom data, India witnessed a decrease of 30% in its Ferro Chrome exports in Apr’17 at 0.07 MnT against Mar’17 at 0.1 MnT.
However, on yearly basis, Indian Ferro Chrome export has increased massively by 133% in Apr’17 against 0.03 MnT in Apr’16.
Indian Ferro Chrome exports was subject to constant pressure in Apr’17 owing to very low demand from Chinese buyers. The prime reason being the Chinese Ferro Chrome producers cut their offers and that reduced the dependency on imports by Chinese Stainless steel mills.
China stands to be the largest importer of Indian Ferro Chrome at 0.03 MnT in Apr’17, registering a fall of 47% M-o-M. South Korea and Taiwan were the second and third largest importer of Ferro Chrome from India.
Current Ferro Chrome Scenario
Demand for India Ferro Chrome recently rebounded on account of high inquiries from Chinese buyers correcting its prices upwards. Moreover, stainless steel giant Baosteel elevated their Ferro Chrome purchase price for July’17 has also supported the sustenance of the same.
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