Ferro chrome export prices have gained substantially as demand from Chinese importers increased and attempts to raise prices were not resisted by Chinese buyers.
SteelMint assessed 58-60% high-carbon ferro chrome at 72-73 cents/lb CIF China. Japan’s spot import price for minimum 60% Cr material was assessed at 74-75 cents/lb CIF Japan. The difference between CIF prices for China and Japan has come down to 2 cents/lb due to the reduced freight charges. SteelMint learned from sources that there is a lot of interest from Chinese buyers, who are also willing to pay higher prices.
Domestic Ferro Chrome Market Stagnates on Weak Demand
Ferro chrome transactions were generally sparse in the Indian domestic market, however, prices remain firm with better price parity and realizations from exports. High Carbon Ferro Chrome 60% is being offered at around INR 61,000/MT (Ex-Odisha).
A trader from Odisha stated, “Demand for the material is low as the stainless steel market is currently not doing well. Prices are stable as there is some shortage in supply.”
On the future outlook, many expect that market conditions will not change much, and prices will remain firm for the material as long as Chinese demand lends support.
Weekly Ferro Chrome Price Comparison
| Week | Ex-China | Ex-Odisha |
| Week 19 | 65.5 cents/lb | INR 58,250/MT |
| Week 20 | 66 cents/lb | INR 61,000/MT |
| Week 21 | 66 cents/lb | INR 61,000/MT |
| Week 22 | 72.5 cents/lb | INR 61,000/MT |
Source: SteelMint Research
Exchange Rate: USD 1 = INR 67
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