Ferro chrome prices rose in the domestic market after having been stable for couple of weeks, following shortage of supply.
SteelMint weekly assessment for ferro chrome 60% was made at INR 63,000/MT.
Offers in the domestic market have risen as supply is low and demand is constant. “We have increased our offers in the market, as trading activity is steady. I believe the price will be soon acceptable as the market is facing a supply crunch,” revealed a Odisha based producer. SteelMint learnt from market sources that Ferro Chrome producers have limited material to offer in the domestic market.
Exports Offers Continues to Remain Unchanged
Offers for Indian ferro chrome were unchanged although buyers’ price expectation is much lower. Indian producers are however confident of finding acceptance in the overseas markets.
The spot price of Indian 58-62% high-carbon ferro chrome was assessed at 71-72 cents/lb CIF China. SteelMint assessed the spot price of Indian high-carbon ferro chrome exports to Japan at 73 cents/lb CIF Japan, unchanged week on week.
No deals could be confirmed, as offers from sellers were not matching buyer’s expectation.
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