Vedanta (FACOR) held the auction for 2,695t of ferrochrome. However, the auction received no bids for the base price of INR100,000/t and therefore was recalled at INR 99,000/t. However, still no interest was noted and therefore the auction was cancelled. There is ambiguity in the market regarding ferrochrome pricing and the buyers are thus unwilling to take risks and are waiting for the upcoming Chinese tenders to get a clearer direction.
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