- Bids increase by 3-4% at Vedanta FACOR’s auction
- Export prices remain unchanged amid holiday lull
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained largely stable, w-o-w, at INR 118,500/t ($1,335/t) compared to the previous assessment on 1 October, 2025. Prices held firm, with sellers maintaining firm offers and routine trades being carried out in the market.
High-carbon ferro chrome (HC60%, Si:4%) prices in India stood at INR 118,500 /t ($1,335/t) exw-Jajpur, according to BigMint’s assessment on 8 October. Around 1,500 t was traded last week within the price range of INR 118,000-122,000/t ($1,329-1,374/t) exw.
Additionally, prices of low-silicon high-carbon ferro chrome dropped slightly by INR 1,000/t ($11/t) w-o-w to INR 125,000/t ($1,408/t) exw-Jajpur. Prices of low-carbon ferro chrome inched up by INR 400/t ($5/t) w-o-w to INR 212,000/t ($2,388/t) exw-Durgapur.
Market updates ( 2-8 October 2025)
Buyers hold back amid higher offers: Ferro chrome prices remained largely stable last week, with bulk deals mostly concluded at INR 118,000 -119,000/t ($1,329-1,340/t) exw levels, while a few transactions were recorded at slightly higher levels of around INR 122,000/t. Buyers, however, showed reluctance at higher offers, reflecting a cautious market sentiment.
A seller informed BigMint last week, “There is no supply shortage of material currently and the market is waiting for the FACOR auction results”.
Bids rise at FACOR’s ferro chrome auction: At Vedanta-FACOR’s ferro chrome auction yesterday, the larger lot of 10-150 mm achieved an H1 price of INR 120,800/t ($1,360/t) exw, up by INR 4,800/t ($54/t) over the base price. The smaller lot of same size fetched INR 119,900/t ($1,350/t) exw, up INR 3,400/t ($38/t) over the base price. Overall, bids were 3-4% higher than base prices.
Export prices unchanged: Indian ferro chrome export prices to China remained flat w-o-w at 97 cents/lb CNF, as trading remained subdued with Chinese participants largely inactive during the Golden Week holidays. Prices to Japan and South Korea also remained unchanged at 103 cents/lb CNF and 102 cents/lb CNF, respectively. Export offers are expected to edge higher, following domestic price gains amid constrained ore supply.
Indian stainless steel prices remain flat: Indian stainless steel 304-grade HRC prices stayed unchanged w-o-w at INR 192,000/t ($2,162/t) exw-Mumbai. The Ministry of Steel has granted a temporary exemption from mandatory BIS certification for stainless steel flat products under IS 6911, IS 5522, and IS 15997 until 31 December 2025. The notification, issued on 6 October 2025, aims to ease import disruptions and address limited domestic supply, particularly in 200 and 300 series stainless steel grades.
Overall demand remained subdued, and market participants expect the finished flats segment to stay largely stable, offering some relief to importers sourcing from BIS-approved suppliers.However, concerns persist over a potential price correction as imports and material inflows increase.
Outlook
Prices might see an increase post-auction results of Vedanta-FACOR yesterday, but the sustainability of it will largely depend on the acceptance of buyers.
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