Indian Ferro Chrome Exports to Increase by over 13% in FY16

Indian Export of Ferro Chrome to go up by over 13% to approximately 467,000 MT in FY16.

In FY15 India exported 411,030 MT of ferro chrome. However, in FY16 Indian export of ferro chrome was recorded at 428,310 MT (Apr-Feb’16). This trend is likely to continue in FY17.

The Far-East, which is the epicenter of Stainless steel production in the world and hence the biggest buyers of ferro chrome in the world, have either maintained their buying levels from India or vastly increased as in the case of countries like China and Taiwan. Taiwan, which had procured 28,151 MT of ferro chrome in FY15, has already procured 48,399 MT in FY16 (Apr-Feb’16). China, which had procured 92,386 MT of ferro chrome in FY15, procured 129,098 MT in FY16 (Apr-Feb’16), up by 40%, with March transactions not accounted for. This was in spite of China’s own production of ferro chrome continuing to rise and South African charge chrome and chrome ore being available at much attractive rates due to the depreciated Rand.

Production levels of Ferro Chrome in India also increased with more Tata Steel and OMC chrome ore being available. India produces around 1 MnT of Ferro Chrome anually, and half of it is exported. FY16 witnessed increased production and excess supply, resulting in prices tanking.

Qty in MT
Source: Custom, SteelMint