High Carbon Ferro Chrome prices stable amid slow demand and low availability
Domestic offer price for High Carbon Ferro Chrome is unchanged from last week. The mainstream price of HC Ferro Chrome 60% min. is hovering around INR 62,000/MT (Ex-Works Odisha). A producer source remarked “Our feeling is that prices will remain more stable now since the US dollar has declined somewhat from the beginning of the month, but we can’t say exactly how the market will react.” Few of the Ferro Chrome producers in India have limited material to offer in the domestic market and are quoting higher prices. Whereas, some smaller producers are quoting aggressively at lower prices.
Export Market
Several Japanese steelmakers were in the spot market this week seeking a total of over 2,000 MT of high-carbon ferro chrome of various grades for delivery starting in September. Sources also said the desired quantity will be a mix of stocks already in Japanese warehouses, as well as fresh seaborne shipments from several producers in India.
SteelMint assessed Japan’s spot import price at 73-74 cents/lb CIF.
The China, Taiwan and South Korea markets were quiet this week and there were no new deals, offers or bids reported. The spot price for 58-60% ferro chrome is at 71-73 cents/lb CIF China, unchanged from a week ago.
The South Korean market is expected to be active next week while the Japanese market turns still, as one mill plans to issue a buy tender for 3,000 MT of Indian ferro chrome for the next quarter.
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