Indian ferro chrome producers increases their offers as the market is witnessing a tight supply.
Ferro Chrome prices regained this week on limited availability in the market. Few Fero Chrome producers are booked out for the month, and are fulfilling long-term contracts. However, demand for ferro chrome is still sluggish from stainless still mills. But looking at the tight supply situation in the market ferro chrome producers have raised their offers.
SteelMint assessed ferro chrome 60% at around INR 57,000/MT (Ex-Odisha), up by INR 1,000/MT from last week’s price.
SteelMint assessed that Ferro Chrome producers are waiting for some kind of trigger to push up prices as the market has been dull for a long time.
Ferro Chrome Export Offers Unchanged
There is no change in demand situation and export offers remain unchanged.
Spot prices of ferro chrome were unchanged this week in China, as Chinese markets were shut for Lunar New Year holidays. SteelMint assessed 60% high-carbon ferro chrome at 56-57 cents/lb CIF China, unchanged from last week’s prices as no spot deals were concluded.
The price of 60% Indian high-carbon Ferro Chrome exported to Japan was assessed at 62 cents/lb CIF Japan, unchanged from last week. There was no deal, bid or offer reported for the standard grade.
Exchange Rate : USD 1 = INR 67.9
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